Blue Origin is reportedly planning on letting go of approximately 10% of its workforce—about 1,000 employees—nearly a month after the inaugural liftoff of New Glenn. The company is hoping to focus on growth over the next few years, increasing the production and launch cadence of its new giant 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.

Jeff Bezos’s Blue Origin rocket company plans to lay off 10 percent of its workforce as it seeks to revamp its operations to better compete with Elon Musk’s SpaceX.