WASHINGTON, D.C.-Crown Castle International Corp. will cut 250 jobs, close offices, and take a charge between $7 million and $10 million in the fourth quarter, according to a filing with SEC detailing the restructuring of its U.S. business.
Crown Castle plans to streamline its U.S. business into seven geographic areas, with each responsible for approximately 1,500 towers. The company hopes the restructuring will reduce annual expenses by $11 million to $14 million.
Shares of Crown Castle were up 9.44 percent, trading at $1.97 following the news.
