Digital Broadband lays off 85% of workforce
Firm cites poor market conditions; tight financial markets.
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Digital Broadband Communications became the latest DSL provider to fall, when it this week revealed it will lay off 450 of its 526 employees.
The Waltham, Mass., firm provided DSL and local voice services to approximately 1,000 business customers in seven states in the Northeast. Digital Broadband will maintain a skeleton staff for an unspecified period of time to allow customers to move to other carriers.
Digital Broadband executives cited poor market conditions and an inability to raise additional capital as reasons for the layoffs.
Over the last several weeks a host of DSL companies have announced layoffs, or filed for bankruptcy due to tighter financial markets and a lack of profits.
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