Virgin Orbit ($VORB@US) is furloughing nearly all its employees and pausing operations for a week as it seeks funding. In an all-hands meeting late Wednesday, company leaders said they aimed to update employees on the furlough and funding by later next week. According to a Virgin Orbit spokesperson, said that the company, which provides launch satellite services for small satellites, is starting an “operational pause” and plans to give “an update on go-forward operations in the coming weeks.” Shares of Virgin Orbit fell about 33 percent in after-hours trading.