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Technology Stocks : GX Investors Thread

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To: BWAC who wrote (197)	8/30/2001 1:42:35 AM
From: Bonzo	of 586

<<. The reduction in workforce was done due to the completion of the basic network and there being no need to continue to carry the previously required number of employees<< Yes I'm sure that had a lot to do with it. However, GX did guide Q3 revenue and EBITDA lower and the realignment announcement did coincide with that lowered guidance. Regardless, we agree that GX is trying to reduce expenses and preserve cash through a difficult economy. Buying back stock is not a prudent use of cash until there is sustained growth in the business again. <<These actions are expected to reduce annualized operating expenses by approximately $160-170 million and to save approximately $70 million through year-end 2001<<

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