Already near death because of a failure of federal officials to approve the roll out of its 4G LTE service, Lightsquared will fire 45% of its 330 persons labor force, according to Reuters.
The company , controlled by embattled fund manager Phil Falcone, can hardly hold own as a going concern much longer. Government delays, based on the fact the Lightsquared signal blocks GPS, are not going to change. The reconfiguration of the entire infrastructure of the firm and its underlying technology would be time consuming and costly.
It is hard to make a case that a company, once so well funded, will continue to operate, when the cost of 150 people is so essential to survival.
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