Earthlink Corporate Restructuring
Good times, good times…
EarthLink, Inc. today announced a corporate restructuring plan. This plan will reduce operating costs across the company. The restructuring will begin immediately and be completed by the end of the year…
Approximately 900 jobs will be eliminated and the company will close its Orlando, FL; Knoxville, TN; Harrisburg, PA and San Francisco, CA offices and substantially reduce its presence in Pasadena, CA, and Atlanta, GA. EarthLink expects to record facility exit and restructuring costs of $60 - $70 million associated with the plan. These costs include $30 - $35 million for certain employee-related costs, $10 - $15 million for lease termination costs, $8 - $10 million for other costs to streamline operations and $8 - $10 million non- cash asset write-offs. EarthLink expects that these facility exit and restructuring costs will be recognized primarily in the third and fourth quarters of fiscal year 2007.
August 28th, 2007 at 10:18 am
Oh no! Good luck in the restructuring. I hope you make it through. It would suck for you to need to move again.
August 28th, 2007 at 11:07 am
Ack. So when will you know something concrete about your position?
August 28th, 2007 at 11:25 am
I’ll know later today. Also, no way I’m moving again. We’re in Atlanta for good.
August 28th, 2007 at 3:49 pm
So….?
August 28th, 2007 at 4:35 pm
I still have a job. Going to be an interesting next few months. Maybe I won’t have to give up my MacBook Pro.
August 28th, 2007 at 8:54 pm
Hurray!
You had me sweating a little.
I ordered a blu ray burning vaio to take to ukraine…my plan is to convert the best of my dvd collection to mp4s and copy them to 50gb discs so i can have movie time!