Content area
Full Text
Windstream said it will eliminate 350 positions by Dec 1, with about 120 of those coming from voluntary buyouts. The company currently has about 13K employees. "We continue to make progress simplifying processes, integrating PAETEC systems and improving operations to drive efficiencies," said Windstream pres/CEO Jeff Gardner. "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." The changes are expected to result in annualized savings of approximately $20mln, with a charge of $7.5mln to be incurred in 4Q.