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Technology Stocks : Winstar Comm. (WCII)
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To: AlexGK who wrote (12391)4/5/2001 9:47:07 AM
From: Lane3  Read Replies (1) of 12468
 
NEW YORK--(BUSINESS WIRE)--April 5, 2001--WINSTAR COMMUNICATIONS,
INC. (NASDAQ: WCII) today announced that it is halting domestic and
international network expansion for the remainder of this year. The
company is also immediately reducing its workforce by approximately
2,000 employees. Going forward, the company will focus on penetration
of its existing broadband infrastructure, which as of March 31, 2001,
includes approximately 5,400 fully on-net buildings and an addressable
market of approximately 150,000 businesses.
As was announced earlier this week, Winstar is engaged in
discussions concerning several material transactions. Once these
matters are concluded, the company anticipates providing additional
details on its business plan.
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