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Allied Riser slashes staff

Allied Riser Communications, which delivers high-speed data connections to business customers in high-rise buildings, said Tuesday that it will lay off 290 workers, or about 75 percent of its employees, over the next eight to 10 weeks. Allied Riser said it needs to reduce its costs while it "refocuses" its business plan. The company plans to stop selling broadband services, to close its sales offices, and to move its customers to other service providers. Dallas-based Allied Riser also said it has been warned by the Nasdaq Stock Market that the company's stock is in danger of being delisted.

Allied Riser Communications, which delivers high-speed data connections to business customers in high-rise buildings, said Tuesday that it will lay off 290 workers, or about 75 percent of its employees, over the next eight to 10 weeks. Allied Riser said it needs to reduce its costs while it "refocuses" its business plan.

The company plans to stop selling broadband services, to close its sales offices, and to move its customers to other service providers. Dallas-based Allied Riser also said it has been warned by the Nasdaq Stock Market that the company's stock is in danger of being delisted.