11 May 2001
Job cuts at Earthlink:
EarthLink eliminated 900 jobs, or 12 percent of its work force, partly
because of its merger last year with fellow Internet service provider
OneMain.
EarthLink president Michael McQuary said that the cuts, which leave
6,477 employees, are due to attrition and the closing of some former
OneMain offices in the Midwest.
The Atlanta-based company also said it had a net loss in the first
quarter of $107.7 million, or 82 cents a share. Excluding merger-related
costs of OneMain, it earned $35.1 million, or 27 cents a share, compared
with a loss of $50.9 million, or 43 cents, in the same period last year.
Analysts surveyed by Thomson Financial/First Call expected a loss of 36
cents a share. Shares of Earthlink (ELNK) were down 43 cents to $11.12
in trading Wednesday on the Nasdaq.
Reuters and AP contributed to this report.
http://www.wired.com/news/print/0,1294,43298,00.html
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