LAUREL, Md., Aug. 6 /PRNewswire-FirstCall/ -- Digex, Incorporated
(Nasdaq: DIGX), announced today a reduction of approximately 200 positions or
about 20% of its workforce. The initiative will begin immediately and is
concentrated in non-service delivery organizations. These efforts are part of
an overall plan for Digex to become financially self-sustaining, and to align
and focus resources on servicing the company's customer base.
"Digex has three top priorities -- customer focus, expanding our value
proposition and financial independence. This initiative is one of several
actions we're taking to ensure expenses are aligned with revenues," said
George Kerns, president and CEO of Digex. "These are difficult decisions and
much effort has been made to ensure that these actions will not impact
delivery of services to our customers. Digex remains committed to retaining
its market leadership and providing the highest quality hosting solutions and
services."
Digex expects to complete these actions by the end of the week. Affected
employees will receive a severance package relative to their duration of
service with the Company.
About Digex
Digex is the leading provider of managed services. Digex customers, from
mainstream enterprise corporations to Internet-based businesses, leverage
Digex's services to deploy secure, scaleable, high performance e-Enablement,
Commerce and Enterprise IT business solutions. Additional information on Digex
is available at http://www.digex.com.
CONTACT: Secret F. Wherrett, +1-240-456-3556 or secret.wherrett@digex.com;
or Investor Contacts: Tania C. Almond, +1-240-456-3800 or
tania.almond@digex.com, both of Digex, Incorporated
SOURCE Digex, Incorporated
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Related links:
http://www.digex.com
CONTACT:
Secret F. Wherrett, +1-240-456-3556 or
secret.wherrett@digex.com; or Investor Contacts: Tania C. Almond,
+1-240-456-3800 or tania.almond@digex.com, both of Digex,
Incorporated
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