Crown Castle reduces capital expenditures in fiber segment, cuts jobs to save $100m in operating costs, and lowers FY24 guidance.
Crown Castle plans to streamline its capital expenditures in its fiber segment, cutting jobs and revising its guidance for FY24. The company aims to improve operational performance and boost returns on small cells by focusing on collocations and network-adjacent anchor nodes. This will result in a reduction of $275-$325m in gross capital expenditures in the Fiber segment in 2024. The company also expects to reduce staffing levels by more than 10% from current levels, resulting in approximately $100m of annualized run-rate operating cost savings.
June 11, 2024
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