After the Federal Communications Commission rejected LightSquared's proposition for running its satelite base services LightSquared now has to cut 45% of their employes. Another reason they cutting employees is because they were not able to make a $56.3 million payment to its partner Inmarsat Plc.
Read more: http://www.washingtonpost.com/business/lightsquared-to-cut-45-percent-of-jobs-after-regulators-reject-expansion-plan/2012/02/22/gIQAeNsEVR_story.html
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