Networking firm Level 3 Communications is to reportedly cut 1400 jobs, or 27 per cent of its workforce.
The firm, which has 5200 employees, also said sales would not meet previous estimates for both 2001 and 2002, according to a Bloomberg report.
Revised figures show estimated revenue figures of around $1.53bn for 2001 and $1.92bn-$2.02bn for 2002.
Previously the firm had predicted sales of around $2bn and $2.52bn-2.72bn respectively.
IBM and Technical University of Munich team demonstrate how Shor's algorithm, which can't be cracked by conventional computers, can be solved quickly with quantum computing
Hubble Space Telescope finds superflares from young red dwarfs could strip away planetary atmosphere
Younger stars are 100 to 1,000 times more energetic than when they're older
Two of the big four supermarkets will use the system to control sales of restricted products
PUBG news and updates: November's Update #23 to bring new Skorpion pistol and changes to blue zone visibility
Genuinely useful side-arm coming to PUBG in Update #23