ZURICH, Switzerland, Oct. 3, 2001 (PRIMEZONE) -- Carrier1 (Neuer Market:CJN) (Nasdaq:CONE) a Pan-European provider of end-to-end Internet, voice, bandwidth, data center and access solutions, today announces that it has initiated a reduction of its workforce by approximately 35%. This will bring the staff population of the Company to approximately 200. The Company will continue to provide its full array of services and retain key salespeople in its present markets.
About Carrier1
Carrier1 International S.A. is one of Europe's top providers of end-to-end Internet, broadband, voice, data-center and dialup access communications to large users of telecommunications services with a network that spans 14,000 contracted route kilometers in 13 countries, and links more than 35 European cities. Carrier1 provides its clients with carrier-grade transport and network solutions as well as end-user-ready, value-added services that customers then brand and market to their respective users.
Forward Looking Statement:
The information contained in this press release contains "forward-looking" statements within the meaning of the U.S. federal securities laws. These statements can be identified by the use of forward-looking terminology such as "believes," "expects," "plans," "estimates," "may," "will," "should," or "anticipates," or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks, uncertainties and assumptions.
These statements include those regarding (i) the overall number of its workforce following the reduction and (ii) the continued retention of the Company's key sales people and the Company's continued provision of services in all its present markets.
These statements are based on the current expectations of the management of Carrier1 and performance is subject to risks, uncertainties and other factors that could cause actual results to differ materially from these statements. Such risks include but are not limited to, the deterioration of the market economy, including in Europe and the technology and telecommunications segments, the deterioration of the financial strength of our customer base, adverse regulatory, technological, judicial or competitive developments; decline in Carrier1 services or products; inability to timely develop and introduce new technologies, products and services; pressure on pricing resulting from competition; unforeseen construction delays and failure to receive on a timely basis necessary permits or other governmental approvals, failure to obtain any necessary financing if management's business plan assumptions are not met, performance failure by third parties with whom Carrier1 has contracted including for the supply or maintenance of infrastructure components and by joint venture partners; the risk of termination of certain joint ventures through which Carrier1 operates; the amount of indebtedness incurred by Carrier1 and its obligations thereunder. For a more detailed discussion of these risks, uncertainties and other factors affecting the Company, please refer to the Company's prospectus and periodic reports filed with the U.S. Securities and Exchange Commission on Form 10-K, 10-Q and 8-K, including its 10-K for the year ended 31 December 2000 and its 10-Qs for the quarter ended 31 March 2001 and 30 June 2001. Corresponding filings are available.