Jeff Bezos-Backed Blue Origin Slashing 10% of Its Workforce (1)

Jeff Bezos’ space company Blue Origin LLC is cutting about 10% of its workforce, a significant pullback aimed at slashing costs and refocusing resources after years of development work.

The rocket and engine maker laid out the personnel shakeup during an all-hands employee meeting with Chief Executive Officer Dave Limp Thursday morning, confirming a workforce reduction first reported by Bloomberg.

In a memo sent to employees, Limp said the company’s growth led to “more bureaucracy and less focus” than needed after a hiring spree over the past few years. After years of expansion bankrolled by Bezos, who started ...