Wireless ISP Starry lays off half its workers in a bid to save cash

The company uses wireless antennas to provide internet, rather than cables or fiber. | Image: Starry Starry, the ISP that delivers internet to your home using wireless antennas instead of cables, is laying off around half its workforce, or just over 500 people, according to a statement from the company and a report in The Boston Globe. The company is also telling investors that they can no longer count on the expectations it set for this year — information that probably doesn’t come as a surprise after its earnings report this summer revealed that it had around $100 million in cash and had lost almost $90 million since the beginning of 2022. Starry says it’s also freezing hiring and non-essential expenditures, again in order to “curtail our cash burn while we pursue strategic options,” as Chet Kanojia, the company’s CEO, put it in a… Continue reading… from The Verge – All Posts https://ift.tt/ACrhFb0 via Grabey
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