Enlarge (credit: Starry)
Wireless home Internet provider Starry is cutting 500 employees, about half of its workforce, and canceling plans to expand into new states. Starry's board of directors yesterday approved the plan to cut 500 jobs, the Internet service provider said in a Securities and Exchange Commission filing today.
"The decision was based on cost-reduction initiatives intended to reduce operating expenses and allow the Company to focus on serving its existing core markets and customers," the filing said.
Starry said the job cuts will be "substantially complete" by the end of December. Starry also announced a freeze on hiring and non-essential expenditures and withdrew full-year 2022 guidance that was previously given to investors.
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