WASHINGTON-C-block personal communications services licensee NextWave Telecom Inc. went through another round of downsizing last week, but would not disclose anything more than that the cuts were nationwide and that no more reductions in force would be implemented. A week before, the company had shut down its Southeast and Midwest operations.
The company made available a terse, four-paragraph explanation of its actions late last week, once again highlighting its efforts to build out its biggest markets first. “The company believes the adjustments it is now making are prudent in light of the current financial and regulatory environments,” the statement read in part. “These adjustments will enable NextWave to preserve the value of its enterprises and also fulfill its long-term business plan, as the company obtains additional financing.”
According to spokeswoman Jennifer Walsh, all layoffs have been completed, and all financial obligations to creditors have been met. She would not divulge final staff numbers nor would she elaborate on which markets were slowed. No one in the Washington, D.C., office was affected by the company’s personnel belt-tightening. Walsh added that NextWave would continue to issue statements as developments occur.
Walsh would not comment on whether NextWave has been successful in garnering any new financial aid; its initial public offering still is being considered by the Securities and Exchange Commission.
