On December 11, 2019, the Board of Directors of Boingo Wireless approved a plan to restructure the company’s business operations and will eliminate approximately 80 jobs constituting 16 percent of its workforce. In an SEC filing, Boingo expects that the workforce reduction will decrease operating costs by approximately $11 million.
“To help drive longer-term revenue and profitability, we are
reorganizing the business into ‘core’ and ‘legacy’ business units,” the
company said in a statement to shareholders. “Core products include
Carrier Services (DAS, Offload, 5G, CBRS), Military and Multifamily.
These are areas where we will continue to focus and invest. Legacy
products will be managed to maximize profitability with minimal
incremental investment.” Continue Reading