Virgin Galactic to Cut Jobs in Strategic Realignment The space travel company said it has had difficulty accessing capital By Ben Glickman Follow Nov. 7, 2023 6:41 pm ET Virgin Galactic said as part of a strategic realignment it is cutting jobs and expenses. PHOTO: JOHANNES EISELE/AGENCE FRANCE-PRESSE/GETTY IMAGES Virgin Galactic is cutting jobs and expenses as part of a strategic realignment to support production of its Delta Class spaceships. The Orange County, Calif.-based space travel company said in a memo to employees on Tuesday that it was having a harder time accessing capital due to interest rates and geopolitical unrest, making the cost-cutting necessary. Chief Executive Officer Michael Colglazier said the company needed to divert its resources to delivering its new Delta Class ships, which the company has said will be ready for commercial service by 2026. As a result, the company will streamline and reduce work unrelated to the Delta program. The company will call each employee individually from Tuesday to Thursday to confirm employment. All employees will work from home for the remainder of the week, Virgin Galactic said. Colglazier said the Delta Class ships would "drive the capacity, growth and profitability of our company." Write to Ben Glickman at <..n@wsj.com

Your initial discussion response should address the following:

Part 1:

In your own words, summarize the article, including the purpose of the article and the main points that the author is communicating to the reader.

Part 2:

Provide an analysis of the article. For example:

• • • explain why you agree or disagree with the author and his/her assertions by supporting your own points with evidence or specific examples from our class readings
    • explain how the article relates to strategic management topics studied in class. Demonstrate your understanding of these connections by using terms and concepts learned in our readings and relate these concepts to real-world examples