Virgin Hyperloop lays off half of its employees as it pivots away from passenger travel

The layoffs were announced over video conference, and the scale of the cuts was"not expected," two people who lost their jobs told the FT.idea

Virgin Hyperloop, which has raised around $450 million in funding, is the only company of its kind to haveThe company is now"changing direction" due to global supply chain issues and"all the changes due to Covid," Virgin Hyperloop told the Financial Times, adding that there was a strong customer interest in a cargo-based service.

Source: News Formal (newsformal.com)

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