Virgin Hyperloop has made almost half of its staff redundant as the company developing the high-speed transport system pivots from passenger travel to freight.
Contacted by the Financial Times, the company confirmed that 111 people had been laid off on Friday, in a move it said would allow it to focus on delivering a cargo version of the experimental transport, which propels pods through low-pressure tubes at speeds of up to 670mph.
Two of the people who lost their jobs said that the lay-offs were announced via video conference. One said the scale of the cuts was “definitely not expected”.
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