EarthLink will cut half its workforce

Steve Safran August 29th, 2007

Internet service provider EarthLink says it’s cutting 900 jobs - that’s about half the people who work for them - and closing four offices. It’s also buying back $200 million of its stock. What did Wall Street think? It likes the moves. EarthLink stock jumped 6% yesterday and is up another 4% as of this writing. If the LR hosting meltdown of 2006 is anything to go buy, we are still rating this a “don’t buy, not on your life.” ALSO: CNET - EarthLink’s WiFi dreams may be fading.