Virgin Galactic laid off staff as part of a "strategic realignment" to focus resources on developing its Delta class vehicles for future suborbital spaceflights. CEO Michael Colglazier said the layoffs and expense reductions are meant to conserve funding for developing the Delta vehicles, which are intended to fly more frequently at lower cost than its current SpaceShipTwo. Virgin Galactic had about 1,166 employees reported at the end of 2022 and had $980 million in cash, though it reported a net loss of $134 million in Q2 2023. The company hopes to enter service with the Delta vehicles in 2026.