SoftBank-backed OneWeb files for Chapter 11 bankruptcy plan, cuts jobs

© Reuters. (Reuters) – OneWeb, the satellite operator backed by Japan’s SoftBank Group Corp (T:), said it has filed for Chapter 11 bankruptcy to pursue a sale of its business and has cut its workforce amid the coronavirus outbreak. OneWeb is in negotiations for debtor-in-possession financing, which if acquired and approved by the court will […]

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