LightSquared to cut 45% of its jobs

Billionaire Philip Falcone’s LightSquared wireless venture is cutting 45% of its jobs — about 150 positions — after the Federal Communications Commission rejected its plan to start operating, after finding that the  proposed network interferes with GPS signals, according to a Bloomberg News report. Company officials said the move was intended to reduce costs while it works to resolve the regulatory objections.

 

 

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