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"Yet another bit of bad news to add to the pile for LightSquared -- the company announced this week that it will be cutting back on its employment numbers by 45 percent. The cost cutting move comes a day after word got out that it had defaulted on a hefty $56.25 million payment. According to reports, the Virginia-based company, which currently employs some 330 people, is apparently not looking into bankruptcy, in spite of its mounting troubles."^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.engadget.com/2012/02/21/lightsquared-to-cut-staff-by-45-percent-as-troubles-grow/>