Blue Origin, the rocket company owned by Amazon founder Jeff Bezos, is reportedly laying off almost 1,400 employees, about 10% of its workforce. The job cuts signal a pivot for the space firm, which said it wanted to trim managerial ranks and focus its resources on ramping up launches of its giant New Glenn 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.

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.