Fiber-optic firm in Cary lays off dozens
Posted May 20, 2008 5:15 p.m. EDT
Updated May 21, 2008 2:23 p.m. EDT
Cary, N.C. — A fiber-optic company founded by former Cary Mayor Glen Lang has laid off about 100 employees, an executive said Tuesday.
Connexion Technologies, which designs and builds fiber-to-the-home networks for homes and apartments, laid off 30 to 40 people at its Cary headquarters and dozens more at its 16 other offices nationwide, said Matt Springer, executive vice president of corporate development.
“It is a tightening of the belt,” Springer said, adding that the sluggish economy and troubled housing market played roles in the move.
Employees were offered severance packages, he said.
Despite the cutbacks, Connexion expects to increase its customer base by 35 percent, to about 42,000 customers nationwide, Springer said.
Lang founded the company in 2002 and is its chief executive officer.