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.

Jeff Bezos’ space company Blue Origin told employees Thursday it would lay off about 10% of its workforce. The company has more than 10,000 employees, with a major presence on the Space Coast at its rocket factory adjacent Kennedy Space Center Visitor Complex where it constructs its New Glenn rocket.