Clearwire’s cash crunch prompts layoffs

Clearwire is adding subscribers at a fast instance as its 4G meshwork hits more field cities, but the company’s equilibrise artefact has condemned a bounteous hit. Now Clearwire needs resource pronto.

First the beatific news, the consort said it additional 1.23 meg newborn subscribers in the ordinal lodge to modify with 2.84 million. Those gains hit the consort projecting more than 4 meg subscribers by the modify of the year.

But those gains become at a powerful outlay that module order Clearwire to revilement 15 proportionality of its workforce, cut marketing outlay and retard plans for more stores and municipality launches (statement). Clearwire said its change advance efforts module spend most $100 meg to $200 meg in 2010 and again in the prototypal half of 2011.

Simply put, the consort is ease losing truckloads of dough. The consort reportable a gain expiration of $139.4 million, or 58 cents a share. Revenue for the ordinal lodge was $147 million, up 114 proportionality from a assemblage ago. Wall Street was expecting a expiration of 61 cents a deal on income of $157.9 million.

Read more of “Clearwire: Subscribers surge, but so does change crunch; Here become layoffs” at ZDNet’s Between the Lines.