Jeff Bezos' space company Blue Origin is cutting about 10% of its workforce, a significant pullback aimed at slashing costs and refocusing resources after years of development work. From a report: 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 Amazon and is the world's third-richest person, Blue Origin is looking to trim manager ranks as it works to clear some $10 billion worth of launch contracts. With a staff of more than 10,000, the layoffs stand to impact over 1,000 roles.

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