360networks Reduces Workforce by 800 Worldwide

Vancouver, June 28 -- As part of its efforts to reduce operating expenses and conserve capital, 360networks, an optical network services provider, announced it is reducing its global workforce by about 800 positions.
"This was an extremely difficult decision, but necessary in light of the very challenging telecom environment and our need to operate as cost-efficiently as possible," said Greg Maffei, president and CEO of 360networks. "I want to thank our employees for their dedication to the company and their many achievements in both the development of our network and the provision of services to our customers."
The workforce reduction includes a range of positions in North America, Europe, South America and Asia. The company will continue to employ about 1000 people globally.