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[i]In a statement provided to SpaceNews July 5, Michael Blum, a member of the company's board of directors who is also serving as acting chief executive, said some "critical" employees would be retained as contractors as the company attempts to stay alive. "Due to adverse financial conditions XCOR had to terminate all employees as of 30 June 2017," Blum said in the statement. "XCOR management will retain critical employees on a contract basis to maintain the company's intellectual property and is actively seeking other options that would allow it to resume full employment and activity." Blum did not disclose how many employees were laid off or how many would be kept on as contractors. In May 2016, XCOR laid off nearly half of its 50 to 60 employees as it devoted its resources to a liquid hydrogen/liquid oxygen engine the company was developing under contract with United Launch Alliance. At that time, XCOR said it was suspending work on Lynx, a two-seat suborbital spaceplane the company had been working on for several years to serve the space tourism and research markets.[/i]
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