Windstream Communications announced last Thursday (Nov. 20) that it plans to eliminate 350 positions by Dec. 1, with about 120 of those affected jobs being eliminated through a voluntary buyout initiative.
Windstream, which has about 13,000 employees, said it was cutting back as it looks to improve its cost structure and to streamline its operations. The company said it expects to incur a charge of $7.5 million in the fourth quarter for severance and other employee benefit costs.
“Today’s actions are difficult, but necessary to effectively manage costs. While we are eliminating certain roles across the company, we continue to invest in strategic areas of our business to grow revenue, better serve customers and create value for shareholders,” company president and CEO Jeff Gardner said, in a statement.
The smarter way to stay on top of broadcasting and cable industry. Sign up below.
Thank you for signing up to Broadcasting & Cable. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.