Yes folks, LightSquared, the broadband wireless company backed by Philip Falcone’s Harbinger Capital hedge fund will cut its workforce by 45%.
"This and other cost savings measures will allow LightSquared to continue to navigate the regulatory process as it works with the appropriate government agencies to find solutions to the GPS interference issue and bring its $14 billion privately funded wireless broadband network to more than 260 million Americans," said the company in a statement published by Reuters on Tuesday.
Lightsquared, headquartered in Reston, Va., employs 330 people...
Read more at http://www.finalternatives.com/node/19687
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