United Rocket and Space Corporation

The United Rocket and Space Corporation (Russian: Объединенная ракетно-космическая корпорация) or URSC is a Russian corporation formed by the Russian government in 2013 to renationalize the Russian space sector. The government intended to do so in such a way as to "preserve and enhance the Roscosmos space agency. The reorganization has continued into 2014 with a Sberbank cooperation agreement. As of 2015 it is in the process of merging with the Russian Federal Space Agency to create the Roscosmos State Corporation.Roscosmos Space Agency was abolished in December 2015 and the Roscosmos state-run corporation will take over 1 January 2016.

In announcing the new corporation in August 2013, Russian Deputy Prime Minister Dmitry Rogozin said "the failure-prone space sector is so troubled that it needs state supervision to overcome its problems." The name for the organization had first been provisionally floated in July 2013 when—three days following the failure of a Proton M launch—the Russian government announced that "extremely harsh measures" would be taken "and spell the end of the [Russian] space industry as we know it." Rogozin indicated it would be "consolidate[d] under a single state-controlled corporation within a year."

More detailed plans released in October 2013 called for a re-nationalization of the "troubled space industry," with sweeping reforms including a new "unified command structure and reducing redundant capabilities, acts that could lead to tens of thousands of layoffs." The Russian space sector employs about 250,000 people, while the United States has about 70,000 people working in the field. "Russian space productivity is eight times lower than America’s, with companies duplicating one anothers’ work and operating at about 40 percent efficiency."

...
Wikipedia