Clearwire cutting staff, fighting for life

By John Letzing – Clearwire Corp., the next-generation wireless network provider backed by Sprint Nextel Corp., Google Inc., Intel Corp. and others, said Friday it will cut a sizeable portion of its employees, as it presses major shareholders for additional financing needed to propel it past the middle of next year.

Meanwhile Sprint (S 3.99, -0.10, -2.44%), which holds a non-controlling 54% stake in (CLWR 6.93, -0.24, -3.35%), disclosed separately that there are doubts about Clearwire’s “ability to continue as a going concern.” more>



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