Close

Search

Search Menu
Photonics Media Photonics Buyers' Guide Photonics EDU Photonics Spectra BioPhotonics EuroPhotonics Industrial Photonics Photonics Showcase Photonics ProdSpec Photonics Handbook
More News
share
Email Facebook Twitter Google+ LinkedIn Comments

Convergent Communications Cutting Workforce

Photonics.com
Aug 2000
ENGLEWOOD, Colo., Aug 7 -- Convergent Communications Inc. will reduce its workforce by 15 percent in an effort to decrease costs, the company said. About 250 jobs will be lost in the cut back due to a second quarter net loss of $78.1 million, or $2.79 per share. In order to become profitable the company will look to team up with various telecommunications companies, the company said. Convergent's stock closed at 3-23/32 on the Nasdaq Friday, near its 52-week low of 3, and has fallen 75 percent since the beginning of the year.
The company plans to sign a definitive agreement with Williams Communications Group Inc., a fiber optics network provider, that will allow it to consolidate its broadband capabilities, said Convergent Communications.

CommunicationsNews & Features

Comments
Terms & Conditions Privacy Policy About Us Contact Us
back to top
Facebook Twitter Instagram LinkedIn YouTube RSS
©2018 Photonics Media, 100 West St., Pittsfield, MA, 01201 USA, info@photonics.com

Photonics Media, Laurin Publishing
x We deliver – right to your inbox. Subscribe FREE to our newsletters.
We use cookies to improve user experience and analyze our website traffic as stated in our Privacy Policy. By using this website, you agree to the use of cookies unless you have disabled them.