Stocks● Neutral
Space station startup Vast cuts 4% of staff amid hiring push
Vast cut 46 employees Wednesday in performance-related layoffs, the startup confirmed. The $500 million-funded company still has 277 open roles as it races to build a commercial ISS successor.
Continue with
Space station startup Vast has cut 4% of its workforce, firing 46 employees Wednesday in what the company called performance-related layoffs. The reduction comes months after the startup raised $500 million to fund its bid to launch the first commercial space station.
A Vast spokesperson confirmed the job losses, saying the cuts were part of a mid-year review cycle. "We parted ways with employees who were not meeting expectations. We are backfilling these positions and are continuing to grow and execute," the spokesperson said. The company has 277 open roles.
Two employees affected by the layoffs told Business Insider that no performance issues had been raised in recent reviews or one-on-one meetings with managers.