Home / Today's Top Stories / Global Crossing stock hits new low

Global Crossing stock hits new low

Shares of Global Crossing Ltd. today hit an all-time low, dropping nearly 8 percent to as low as $3.65 a share before rebounding slightly.
The telecommunications company’s stock has fallen some 90 percent from its 52-week high of $37.75. Last month the company detailed a series of job cuts and consolidation efforts expected to reduce employment worldwide.
The company expects the cuts to reduce its annualized operating expenses by approximately $160 million to $170 million and to save some $70 million through year-end 2001.
The local job reductions are expected to total some 100.

(c) 2001 Rochester Business Journal. Obtain permission to
reprint this article.

Global Crossing stock hits new low

Shares of Global Crossing Ltd. on Monday hit an all-time low, dropping nearly 8 percent to as low as $3.65 a share before rebounding slightly. The telecommunications company’s stock has fallen some 90 percent from its 52-week high of $37.75. In July the company detailed a series of job cuts and consolidation efforts expected to reduce employment worldwide.

x

Check Also

Pictured is an MCC student engaging in hands-on learning in the optical systems
technology program. MCC’s Future of the Technician Workforce Study found that
industries like Internet of things, automation and robotics, artificial intelligence and
more will have growing importance (Photo provided).

MCC program designed to bridge skills gap for technicians (access required)

The region’s next generation of technicians will need a varied skill set, focusing not only on new technologies and processes ...

2020 Super Lawyers & Rising Stars

The 2020 Upstate New York Super Lawyers and Rising Stars have been announced and the following Rochester lawyers have made ...

Tom Ferraro (Provided photo)

Foodlink founder Tom Ferraro left a living legacy (access required)

It’s been more than six years since the death of Tom Ferraro, founder of Foodlink, yet those who knew him ...