PentaStar Cutting 100 Jobs
DENVER (AP) _ Telephone service provider PentaStar Communications Inc. has laid off 100 people, or about 31 percent of its work force, as it shifts its focus away from underperforming markets.
The job cuts, completed over the last few months, affected five of the 32 employees at the company’s Denver headquarters, PentaStar said.
The biggest pullback occurred in the northeastern states, said PentaStar spokeswoman Nancy Shipp. The company has not abandoned any markets.
The publicly held company, founded in October 1999, has 220 employees.
PentaStar’s stock was trading at $3.39 per share Tuesday morning on the Nasdaq Stock Market, unchanged from the closing price Monday.
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