Wireless Internet company

Metricom

(MCOM)

was down 5.1% in preopen

Island

trading after announcing the resignation Thursday of its finance chief James Wall and senior vice president Robert Mott. The news follows CEO Timothy Dreisbach's departure last month, after a drop in revenue and a wider-than-expected fourth-quarter loss.

The company also said it had cut 179 employees, or 22% of its work force, according to a plan outlined last month.