Amid considerable speculation about a potential merger, San Diego’s Leap Wireless (NASDAQ: LEAP) has trimmed about 4 percent of its workforce and closed or transferred 38 of its Cricket Communications storefronts.
Leap spokesman Greg Lund confirms that the flat-rate wireless service provider laid off a total of 180 employees nationwide on March 1 as part of a cost-cutting review, which the company did not announce. The cutbacks occurred after Leap reported its fourth-quarter and 2009 financial results on Feb. 25 . The company posted a bigger-than-expected loss of $64 million, or 82 cents a share, for the fourth quarter, on revenue of $547 million.
Leap Wireless Closes Cricket Stores, Cuts 180 Employees
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