The CEO of Jeff Bezos' Blue Origin announced in an all-hands call on Thursday company-wide layoffs of "about 10 percent" of its employees, a sweeping readjustment as it aims to cut costs and ramp up rocket launches.

In the memo to staff, Blue Origin's chief executive, Dave Limp, said the job cuts are part of a plan to trim managerial ranks and focus resources on ramping up rocket launches. Blue Origin has recently completed the first test flight of its New Glenn rocket,