Astra, a rocket startup that went public last year, told investors Tuesday it laid off 16% of its workforce as part of a wider strategy to increase shrinking financial runway and decrease expenses.
The company also said it would reduce near-term investments in space services to grow its core businesses: namely, launch and spacecraft engines. This latter segment in particular has become a growing source of revenue for Astra, with the company reporting it had 237 committed orders for its spacecraft engines to entities including Maxar, OneWeb and Astroscale. That represents an increase of 130% from last quarter.
Astra is also developing Launch System 2, including a …
