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

Image of an antenna overlooking a city skyline.
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…

Go to Source
Author: Mitchell Clark