Why is Crown Castle reducing its workforce?

Crown Castle is reducing its workforce by approximately 20% as part of its transition to a pure-play tower operator and to achieve annualized operating cost savings.

What is Crown Castle's site rental revenue forecast?

Crown Castle forecasts fiscal year 2026 site rental revenue to be between $3.83 billion and $3.87 billion, which is below Wall Street expectations.

What happened with Crown Castle's fiber assets?

Crown Castle sold its fiber assets last year for $8.5 billion, a move aimed at improving the company's financials.

Home / Business and Economy / Crown Castle Cuts Jobs Amid Revenue Woes

Crown Castle Cuts Jobs Amid Revenue Woes

5 Feb

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Summary

Company slashes workforce by 20% and forecasts lower revenue.
Sale of fiber assets for $8.5 billion finalized last year.
Site rental revenue forecast falls below Wall Street expectations.

Crown Castle Cuts Jobs Amid Revenue Woes

Wireless tower operator Crown Castle announced a substantial workforce reduction, with approximately 20% of its tower and corporate staff being cut. This decision underscores difficulties the company faces as it transitions to a pure-play tower operator, experiencing reduced spending from major wireless carriers.

The company is also projecting its fiscal year 2026 site rental revenue to fall between $3.83 billion and $3.87 billion. This forecast falls short of the $4.13 billion anticipated by Wall Street analysts.

These cost-saving measures are expected to result in approximately $65 million in annualized operating cost savings. This follows Crown Castle's strategic decision last year to sell its fiber assets for $8.5 billion, a move initiated after pressure from activist investor Elliott Investment Management to enhance financial performance.