Blue Origin announced plans to lay off about 10% of its workforce — or more than 1,000 employees — nearly a month after the company debuted its first orbital rocket.

Jeff Bezos' rocket company Blue Origin is laying off 10% of its workforce, CEO Dave Limp told employees on Thursday. Why it matters: Bezos' company competes with Elon Musk's SpaceX in the rocket race,

In an email to employees, the company’s chief executive said the company had become bloated during its growth in recent years.