NorthPoint Communications Unmoved by Layoffs

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High-speed Internet service provider

NorthPoint Communications


was unchanged in early afternoon after being up much of the morning. The company said it would cut its workforce by 19%, or 248 jobs, to lower expenses after the collapse of its merger with


(VZ) - Get Report

. NorthPoint's stock plunged 73% Nov. 30 after Verizon pulled out of the agreement.