New York (CNN Business) SpaceX is laying off 10% of its 6,000-person workforce as it tackles two hugely expensive projects. Elon Musk's rocket company said its finances are healthy, but that it needs to make cuts so its most ambitious plans can succeed. "To continue delivering for our customers and to succeed in developing interplanetary spacecraft and a global space-based Internet, SpaceX must become a leaner company," the company said in a statement. This means we must part ways with some talented and hardworking members of our team." "This action is taken only due to the extraordinarily difficult challenges ahead and would not otherwise be necessary."

Source: CNN January 12, 2019 01:07 UTC