InFlow Reduces Staff at HQ

July 11, 2001 -- Managed hosting provider InFlow said this week that it has reduced the number of employees at its headquarters.
"Inflow has offered voluntary departure packages to the corporate employees in Denver, and a small number have taken it," said InFlow spokesperson Karen Cryderman, who said the company did not yet have a final number on how many workers had accepted the buyouts.
"The voluntary departure package was not offered to employees at Inflow's Internet Data Centers or anyone who had a customer-facing position," said Cryderman
"Inflow offered the voluntary package for the sake of the employees' well being," Cryderman added. "Under the stressful market conditions, Inflow wanted to give employees a choice and be able to make decisions for their career paths."
InFlow operates 18 data centers in 15 states, and had about 650 employees as of May. The company recently announced the signing of its 500th data center customer.
In March, the company secured $75 million in debt financing from the Bank of Montreal, GE Capital Telecom and First Union National Bank. All told, the company has raised to more than $300 million.