McLeodUSA makes cuts; Rhythms delisted
McLeodUSA announced plans to cut about 5% of its 11,500-employee work force as part of a series of cost-reduction initiatives.
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Rhythms NetConnections was delisted by Nasdaq and is being traded on the OTC Bulletin Board. Separately, the DSL provider announced plans to defer quarterly dividend payments due to certain bondholders on June 4 “until market conditions become more favorable.”
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