Clearwire today reported major losses that prompted it to take dramatic action and conserve its resources. After a net loss of $564.6 million, the 4G service said it would take "cash conservation measures" and cut 15 percent of its entire workforce. The plan will also see it delay plans for its own smartphones and stop development of future retail stores. It characterized itself as an "early-stage" network for whom losses were part of its growth phase, but it also warned that problems were immediate and that there were no guarantees it could survive past mid-2011.
