Ursa Major starts Layoffs
Layoffs Hit Rocket Engine Startup Ursa Major Amid Market Challenges
Rocket engine startup Ursa Major has reportedly laid off at least seven employees, with one individual citing budgetary constraints as the reason for their departure, according to posts on LinkedIn. The company, based in Berthoud, Colorado, has not yet responded to inquiries regarding the extent of the layoffs or the number of affected employees. As per LinkedIn, Ursa Major currently employs 292 individuals.
Ursa Major joins a growing list of companies facing significant market headwinds that have impacted even the most prominent names in the technology sector. The layoffs reportedly included engineers working in propulsion, a core area of expertise for the company, as well as quality analysis roles.
Ursa Major focuses on the development of liquid engines for rocket and hypersonic applications. Their portfolio includes the 5,000-pound thrust Hadley engine and the 50,000-pound thrust Ripley engine. Recently, the company announced the acquisition of an "eight-figure" contract to advance the development of two new engines: the Draper engine for hypersonic applications and the 200,000-pound thrust Arroway engine.
In April, Ursa Major also revealed that it had secured a contract to supply the upper stage engine for Astra Space's Rocket 4, which is currently under development. The company stated that it produces approximately 30 Hadley engines per year for various customers, including Stratolaunch and Phantom Space.
The recent layoffs at Ursa Major serve as a reminder of the challenges faced by companies in the competitive space industry, where market conditions can significantly impact operations and workforce requirements. As the industry continues to evolve, Ursa Major will need to navigate these challenges to maintain its position as a key player in the rocket engine sector.