Connexion Technologies, a provider of communications technology for residential communities across much of the nationwide, is going through its second round of layoffs this year.
Capitol Broadband Management informed the state Department of Commerce on Monday that it would be cutting 140 jobs at its Cary headquarters, effective Tuesday.
The company laid off about 80 people from its workforce of about 600 in January.
Founded in 2002 by former Cary Mayor Glen Lang, Connexion works with partners like satellite, cable and telecommunications firms to deliver video and data services. Its backers include Jim Goodnight, founder and chief executive of Cary-based software developer SAS Institute. Goodnight is an investor through an investment firm.
There was no immediate word on the reason for the latest cuts. The January layoffs resulted from a switch to wireless delivery of video and data instead of using fiber-optic cables, company officials said.
Connexion made the Inc magazine 500 in 2010 as one of the nation’s fastest growing company and the Inc 5000 list in 2011.
In the 2011 list, Connexion was reported to have $30 million in revenue for 2010 and a 263 percent rate of growth over three years. Its headcount stood at 612, nearly doubling from 314 over that three-year period.
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