Space station startup Vast cuts 4% of employees
Space startup Vast has laid off 4% of its workforce, citing performance-related issues despite recent funding success. The company is currently developing a commercial successor to the International Space Station.
Why it matters
This move reflects the volatile nature of the emerging commercial space industry as companies race to replace aging government-funded infrastructure.
Max Haot, the CEO of space station startup Vast. Sam Barnes/Sportsfile for Web Summit Qatar via Getty Images Space station startup Vast cut 4% of its employees this week, Business Insider has learned. The startup is building a commercial replacement for the International Space Station. A Vast spokesperson said the cuts were performance-related and the startup is looking to backfill them. Space station startup Vast has cut 4% of its workforce as the new space race heats up. The startup, which is developing a commercial replacement for the International Space Station (ISS), fired 46 employees on Wednesday, Business Insider has learned. The cuts come months after Vast raised $500 million in a funding round aimed at launching the world's first commercial space station in 2027. A spokesperson for the startup confirmed the job losses, which they said were performance-related.
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