Brief: Astra Space Inc Optimizes Workforce To Support Sustainable Long-Term Business Plan

Astra Space

04/08/2023 21:49

Aug 4 (Reuters) - Astra Space Inc  ASTR.O :
    * ASTRA SPACE INC -  OPTIMIZES WORKFORCE TO SUPPORT
SUSTAINABLE
LONG-TERM BUSINESS PLAN
    * ASTRA SPACE - CONTINUES TO EVALUATE FINANCING
OPPORTUNITIES
AVAILABLE, INCLUDING THROUGH ISSUANCE OF DEBT SECURITIES OR
ADDITIONAL EQUITY SECURITIES
    * ASTRA SPACE INC -  ALSO REDUCED OVERALL WORKFORCE BY ABOUT
25%
SINCE BEGINNING OF QUARTER, INCLUDING A REDUCTION OF ABOUT 70
EMPLOYEES ANNOUNCED ON AUG 4
    * ASTRA SPACE INC -  REALLOCATED ABOUT 50 ENGINEERING AND
MANUFACTURING PERSONNEL FROM LAUNCH SERVICES TO SPACE PRODUCTS
    * ASTRA SPACE INC - CONTINUES TO MAKE SIGNIFICANT REDUCTIONS
TO
ITS OPERATING EXPENSES
    * ASTRA SPACE INC -  REDUCTION, REALLOCATION OF LAUNCH
SERVICES
RESOURCES IS EXPECTED TO DELAY THE TIMING OF TEST LAUNCHES AND
PAID COMMERCIAL LAUNCHES
    * ASTRA SPACE INC - SEES QTRLY REVENUE $0.5 MILLION - $1.0
MILLION
    * ASTRA SPACE INC - CUMULATIVE REDUCTIONS IN WORKFORCE ARE
EXPECTED TO RESULT IN OVER $4M OF QUARTERLY COST SAVINGS
BEGINNING IN Q4 2023
    * ASTRA SPACE INC -  AFFECTED EMPLOYEES PRIMARILY SUPPORTED
CO'S
LAUNCH, SG&A, AND SHARED SERVICES FUNCTIONS

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