Tuesday, November 15, 2011

FiberTower Cuts 40% of Employees, Halts CAPEX Projects

FiberTower, which has positioned itself as a wireless backhaul services provider, announced a 40% cut in its workforce. The company has also halted all capital and project related spending in an effort to conserve existing liquidity. Remaining staff will be focused on maintaining the company's network and day-to-day operations as management makes decisions about future actions. http://www.fibertower.com

  • FiberTower, which was formed in 2000, holds an extensive spectrum footprint in 24 GHz and 39 GHz bands. It operates carrier-class microwave and fiber networks in 13 major markets.

  • Earlier this year, FiberTower announced service discontinuation notices from both Clearwire and AT&T.