SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : LAST MILE TECHNOLOGIES - Let's Discuss Them Here
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: zbyslaw owczarczyk who wrote (10203)1/17/2001 5:22:42 AM
From: elmatador  Read Replies (1) of 12823
 
Armaggedon:Rhythms NetConnections to lay off 23% of work force
By Bloomberg News
January 16, 2001, 5:10 p.m. PT
ENGLEWOOD, Colo.--Rhythms NetConnections, a provider of high-speed Internet service, said it laid off 450 workers, or about 23 percent of its staff, to save cash.

The Englewood, Colo.-based company said it also will take a restructuring charge of $15 million to $17 million in the first quarter for the job cuts and costs of a new strategy to focus on its 40 largest markets.

Rhythms NetConnections said the cutbacks, the focus on bigger markets, and other cost-saving moves will reduce its 2001 loss before interest, taxes, depreciation, amortization and the one-time restructuring charge to about $395 million. That's about 15 percent less than analysts had estimated, the company said.

news.cnet.com
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News