Cinci Bell grows profit, will reduce headcount

Independent telco Cincinnati Bell reported a profit of $28.8 million for the first quarter, more than double what it had for the same quarter last year. But, the company still announced plans to reduce its workforce by about 7 percent, or 200 jobs, pointing to shrinking revenue and an overall soft economic environment as the reasons behind the cuts.

The company's revenue for the quarter fell about $23 million to $325.5 million, and was down in just about every segment--wireline, wireless and in the firm's technology solutions unit. Cincinnati Bell also said it would suspend corporate contributions to its employees' retirement plans.

For more:
- The Dayton Business Journal has this report

Related article
Cincinnati Bell profited in the fourth quarter, but froze management pay

Suggested Articles

Microsoft does not report exact revenue amounts for Azure, but it said Azure revenue grew 64% in the latest quarter compared to the previous year.

U.K. broadband provider CityFibre is targeting 14 more cities for its all-fiber gigabit service.

While Cisco has embraced the concept of disaggregation, service providers need to carefully consider how they will implement it.