Jeff Bezos' rocket company Blue Origin is cutting 10% of its workforce. The move comes just a month after the debut of Blue Origin's New Glenn rocket, which reached orbit on its first try.

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.

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.