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SpaceX plans to lay off 10% of its workforce

Billionaire entrepreneur and founder of SpaceX Elon Musk speaks at the 68th International Astronautical Congress 2017 in Adelaide on September 29, 2017.
Peter Parks | AFP | Getty Images

SpaceX is planning on trimming its workforce, a company spokeswoman told CNBC.

The company said it sees "extraordinarily difficult challenges ahead" and therefore needs to "become a leaner company."

The Los Angeles Times first reported that the Hawthorne, California-based company would be laying off about 10 percent of its staff. According to its website, SpaceX employes more than 6,000 people.

Read SpaceX's full statement below: 

"To continue delivering for our customers and to succeed in developing interplanetary spacecraft and a global space-based Internet, SpaceX must become a leaner company. Either of these developments, even when attempted separately, have bankrupted other organizations. This means we must part ways with some talented and hardworking members of our team. We are grateful for everything they have accomplished and their commitment to SpaceX's mission. This action is taken only due to the extraordinarily difficult challenges ahead and would not otherwise be necessary."

SpaceX was named the No. 1 company on the , announced in May. At the time, SpaceX told CNBC its

Earlier this month, SpaceX raised $273 million through preferred stock, according to a filing with the Securities and Exchange Commission.

In December, The Wall Street Journal reported that SpaceX was raising $500 million in funding, placing its valuation at $30.5 billion. Founded by , SpaceX was reportedly planning to use the new cash to build its