SoftBank-Backed OneWeb Files for Chapter 11 Bankruptcy Plan, Cuts Jobs

OneWeb, the satellite operator backed by Japan's SoftBank Group, said it has filed for Chapter 11 bankruptcy to pursue a sale of its business and and has cut its workforce amid the coronavirus outbreak.

SoftBank-Backed OneWeb Files for Chapter 11 Bankruptcy Plan, Cuts Jobs
OneWeb, the satellite operator backed by Japan's SoftBank Group, said it has filed for Chapter 11 bankruptcy to pursue a sale of its business and and has cut its workforce amid the coronavirus outbreak.