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.

The CEO of Jeff Bezos' Blue Origin announced in an all-hands call on Thursday company-wide layoffs of "about 10 percent" of its employees, a sweeping readjustment as it aims to cut costs and ramp up rocket launches.