Struggling XCOR Aerospace has laid off its remaining employees in Mojave, Calif. and Midland, Texas.
“Due to adverse financial conditions XCOR had to terminate all employees as of 30 June 2017,” the company said in a statement. “XCOR management will retain critical employees on a contract basis to maintain the company’s intellectual property and is actively seeking other options that would allow it to resume full employment and activity.”
The move follows the news last month that CEO Jay Gibson was leaving the company after President Donald Trump nominated him for a high-level position at the Department of Defense. Gibson left the company at the end of June.
XCOR hired Gibson in March 2015 to replace founder Jeff Greason. The objective was for Gibson to focus on the business side while Greason focused on completing construction on the two-seat Lynx suborbital space plane.
That arrangement did not work out. By November, Greason and two other founders, Dan DeLong and Aleta Jackson, had left the company to found Agile Aerospace.
Greason, DeLong, Jackson and Doug Jones founded the company in 1999 after being laid off from Rotary Rocket.
In May 2016, XCOR laid off about 25 employees — roughly half of its workforce — and suspended work on the Lynx. The company has since refocused its energies on its rocket engine work.
XCOR had been working on an upper stage for United Launch Alliance’s Vulcan launch vehicle.