Sierra Space, one of the sector’s most valuable private companies, laid off several hundred employees and contractors this week, CNBC has learned.
A Sierra Space spokesperson confirmed the company let go of about 165 employees on Thursday, but declined to specify the number of contractors affected. Former Sierra Space employees told CNBC that the layoffs included a significant number of contractors, with the cuts including hundreds of personnel in total.
The laid-off employees received two weeks of paid non-working notice, plus four weeks of severance pay and health care benefits through the end of the year. Sierra Space had about 2,000 employees before reducing its workforce, the company spokesperson said.
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