METRICOM - Wireless Data Communications Message Board

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Technology Stocks : METRICOM - Wireless Data Communications

MCOM 0.00520

-13.3%

Dec 1 3:02 PM EST

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To: Stephen Ettorre who started this subject	6/28/2001 10:45:54 AM
From: Caxton Rhodes	Read Replies (1) of 3376

WSJ Metricom Announces Another Round Of Job Cuts in Effort to Conserve Cash A WALL STREET JOURNAL ONLINE News Roundup SAN JOSE, Calif. -- Wireless-Internet provider Metricom Inc. cut its work force by 23%, its second recent round of cuts, citing the "critical need to conserve cash" to continue operations beyond August. Metricom's Auditor Issues Caution About Firm's Future (March 30) Metricom to Lay Off 179 Workers; Finance Chief Wall Steps Down (March 15) The company said its continued focus on marketing and operating in its existing 15 markets, combined with a shift away from rapid widespread deployment, has significantly changed its staffing needs. The company said it will have 451 employees world-wide following the reduction. Metricom said it is continuing to evaluate strategic options to support future plans. In March, the company said it laid off 179 employees, or 22% of its work force, and announced the resignation of Chief Financial Officer James Wall. In the company's annual report, filed in March, Metricom auditor Arthur Andersen said it had "substantial doubt" about the company's ability to continue as a going concern. At the time, company said it had enough cash and cash equivalents to satisfy its capital expenditure requirements through August.

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