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Short Take: New Edge Networks cuts 135 jobs

New Edge Networks, a provider of DSL in small, midsize and semi-rural markets, announced Monday it is eliminating 135 jobs. In addition to the layoffs, the company is planning to consolidate sales and regional offices. On Oct. 18, New Edge Networks announced it raised $139.9 million in a third round of funding, bringing total invested capital in the company to $302.6 million in the 15 months since it was established, the company said in a statement. Over the past 18 months, New Edge Networks grew from five co-founders to 455 employees, according to the company.

    New Edge Networks, a provider of DSL in small, midsize and semi-rural markets, announced Monday it is eliminating 135 jobs. In addition to the layoffs, the company is planning to consolidate sales and regional offices. On Oct. 18, New Edge Networks announced it raised $139.9 million in a third round of funding, bringing total invested capital in the company to $302.6 million in the 15 months since it was established, the company said in a statement. Over the past 18 months, New Edge Networks grew from five co-founders to 455 employees, according to the company.