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As if the lack of capital weren’t an enormous enough downside, the CLECs now face a full-scale assault by incumbent local exchange carriers (ILEC). Venture capital funding, which DSL CLECs need to build out their networks, has dried up. Analysts have recognized a handful of CLECs which have robust enough administration groups and sufficient capital to outlive until the financial system picks up. It’s burning by cash at $75 million monthly, and even though it expects to throttle again spending to $60 million per month by slicing its payroll via layoffs and focusing on a smaller variety of markets, the company solely has sufficient cash to last into early 2002. Those are scary prospects for the once-high-flying company that topped the Network World 200 listing of quickest-rising companies just last yr. Similarly, Rhythms recently introduced layoffs and says it plans to lose $395 million in 2001. It, too, says it has solely enough financing to final for one more 12 months
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