Blue Origin, the rocket company owned by Amazon founder Jeff Bezos, is reportedly laying off almost 1,400 employees, about 10% of its workforce. The job cuts signal a pivot for the space firm, which said it wanted to trim managerial ranks and focus its resources on ramping up launches of its giant New Glenn rocket.

Jeff Bezos's rocket company Blue Origin is laying off around 10 percent of its workforce following a period of rapid expansion, the firm's chief executive told staff on Thursday.

Blue Origin LLC is bracing for a large reduction in its workforce, people familiar with the matter said, in a sign the Jeff Bezos-backed space company is looking to cut costs and focus resources on ramping up rocket launches after years of R&D work.