Sunday, December 7, 2008

Level 3 Cuts 450 Jobs, an 8% Reduction

Level 3 Communications announced a workforce reduction of approximately 450 employees in North America, approximately 8 percent of its total employee base. The reduction will take place before the end of December 2008 and will result in a restructuring charge of approximately $12 million to $15 million in the fourth quarter 2008. The reductions are being made across multiple levels in the organization and multiple locations in North America only.