Ting Internet has announced another round of layoffs, this time eliminating more than a third of its workforce.
After cutting 13% of its staff at the beginning of the year, the Charlottesville-based internet provider laid off another 42% of its North America employees late last month.
Multiple employees in Charlottesville confirmed they had been laid off, but the total number of layoffs in Charlottesville and at Ting’s other Virginia office in Alexandria has not been announced.
The Daily Progress has made multiple attempts to contact the company, but no one in the communications department or otherwise has responded to any inquiries.
Ting’s parent company, Toronto, Canada-based telecommunications company Tucows, did confirm the layoffs in a public statement, saying the cuts were part of a “capital efficiency plan” meant to decrease expenses and transition the company toward self-sufficiency.
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Ting is a Charlottesville-based internet provider.
Tucows employees were not spared, with 17% of the parent company’s workforce, including multiple senior-level staffers, laid off in the recent round of cuts.
“This decision was a difficult one and I want to acknowledge the impact it will have on the employees who are leaving,” Tucows President Elliot Noss said in a statement released on Oct. 31. “These are hardworking people who have made significant contributions to the Company, and their dedication will be remembered.”
“We do not take these measures lightly, and this decision was made with the deepest consideration for the future of the Ting business and its continued sustainability,” he added.
Noss
The first round of layoffs in 2024 came in February, affecting 72 Ting workers across the multiple business teams and geographic markets in North America, including three in Virginia.
At that time, Ting cited recent trends in the fiber sector in its decision-making. Now, however, the issue appears to be the financial health of the internet provider, according to Noss.
“We undertook the capital efficiency plan after exploring all other options to finance Ting’s continued expansion,” he said in a lengthy explanation about improving the company’s adjusted EBITDA — that is earnings before interest, taxes, depreciation and amortization, a measure of a business’ valuation.
Noss said he believes the layoffs will allow Ting to begin generating more revenue. The capital efficiency initiative he outlined involves “increasing penetration within our own footprints” and expanding the company’s presence in partner markets, such as Memphis, Tennessee, and Colorado Springs, Colorado.
Tucows should begin to see significant growth in the upcoming year, according to the company leaders, and Ting should be close to breaking even in 2025.
“Our goal is to transition Ting to a cash-generating business that sustains its own operations and growth,” said Noss.
Ting has 45,000 customers across six U.S. states, including Virginia, North Carolina, Maryland, Colorado, California and Idaho, with an ongoing expansion in Arizona.