Tethers Unlimited lays off 20 percent of staff

Rob Hoyt

Robert Hoyt is the co-founder and CEO of Tethers Unlimited Inc. (TUI via YouTube)

Bothell, Wash.-based Tethers Unlimited Inc. has laid off about 20 percent of its workforce due to a cash crunch brought on by the partial government shutdown, the company’s CEO says.

Tethers Unlimited snared an impressive lineup of contracts from NASA and the Defense Advanced Research Projects Agency, or DARPA, for work on innovative spacecraft thruster systems and space-based fabrication systems. But it can’t get paid for the work it’s done over the past three months, CEO Rob Hoyt told GeekWire today in an email.

Hoyt expects commercial contracts to keep the company afloat during the shutdown, which has now gone into its fourth week. But he said the decision to cut back on staff was “really painful and disheartening.” In his email, he decried what he called a game of “Russian roulette with the American economy.”

Get the full story on GeekWire.

About Alan Boyle

Award-winning science writer, creator of Cosmic Log, author of "The Case for Pluto: How a Little Planet Made a Big Difference," president of the Council for the Advancement of Science Writing. Check out "About Alan Boyle" for more fun facts.
This entry was posted in GeekWire and tagged , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.