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OmniSky lays off 100

Wireless service provider OmniSky has laid off another 100 employees and hired Bear Stearns as its financial adviser to "assist the company in identifying and evaluating various strategic alternatives," according to a company statement released Wednesday. The layoffs are expected to save the company about $20 million in annual operating expenses, according to OmniSky's Chief Executive Patrick McVeigh. The company went through another round of layoffs in June, when it laid off 100 employees.

Wireless service provider OmniSky has laid off another 100 employees and hired Bear Stearns as its financial adviser to "assist the company in identifying and evaluating various strategic alternatives," according to a company statement released Wednesday.

The layoffs are expected to save the company about $20 million in annual operating expenses, according to OmniSky's Chief Executive Patrick McVeigh. The company went through another round of layoffs in June, when it laid off 100 employees.