Iridium fires 80 staff
Has to double subscriber numbers in 15 days. Oh dear.
Iridium has laid off 15 per cent of its workforce -- around 80 people -- in the satellite mobile phone company's latest bid to stay in orbit. That said, the future for the remaining 470 staff doesn't appear to good. According to The Wall Street Journal, Iridium's subscriber base now totals 15,000. Compared to March's figure of 10,000, that doesn't sound too bad. However, the company has to hit 27,000 by the end of this month, one of the performance targets set by its creditors in May. ® See also Iridium to cut call charges Iridium granted 30-day reprieve