Closing offices in Orlando, Knoxville and Harrisburg, Earthlink - an internet service provider, said yesterday that it will be firing 900 employees. Part of a restructuring plan that has been in full swing since CEO Rolla Huff came to office in late June, the plan also includes a $200 million share buy-back program. Shares of Earthlink sored up as much 12% and continues to climb today. Restructuring costs are estimated $60 million to $70 million, with a projected annual savings of $25 million to $35 million.

In efforts to move away from creeping sales of its dial-up service, Earthlink has been investing into public wireless hotspots and reselling DSL subscriptions. However, Earthlink has cut its outlook, citing third quarter revenue $290 million to $300 million - a net loss of $33 million to $43 million.

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