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CenturyLink Confirms Cuts - Broadcasting & Cable

CenturyLink Confirms Cuts

Anticipates workforce reduction in range of 7-8%
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CenturyLink confirmed that it plans to reduce its workforce by up to 8% as part of a broad cost-cutting effort.

The company said it’s approaching those cuts initially on a voluntary basis and expects to complete the move by Dec. 16.

USA Today reported earlier that CenturyLink has about 43,000 employees, meaning that the planned cuts could impact about 3,500 employees.

The paper also cited a memo from CenturyLink CEO Glen Post noting that the cuts and a realignment of the company’s fundamental cost structure are coming as the telco is pressured by a “decline in our legacy revenues” that “creates a $600 million negative impact on our business each year.”

For the full story go to Multichannel.com.

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