Exodus Will Trim About 15% of Work Force
Reuters
Web-hosting company Exodus Communications Inc. said it will shed about 675 jobs, or 15% of its work force, as it tries to control costs.
The Santa Clara, Calif.-based company said it will log a charge of less than $10 million for the move. It expects to achieve most of the work force reductions through attrition and consolidation of facilities.
Despite the cutbacks, Exodus said it would continue to expand the reach of its operations, pressing forward with the scheduled opening of an Internet data center in Paris next week.
Shares of Exodus fell 69 cents to close at $9.43 on Nasdaq.
