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Fairpoint Announces New Round of Layoffs

Fairpoint Communications has announced the company is laying off around 260 workers across the seventeen states in which the company operates. "Access lines and legacy revenues are in secular decline, and we are taking these steps to ensure our administrative and operational structures remain aligned with the current size and composition of our business," Fairpoiint CEO Paul H. Sunu said in a statement.

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"Faced with the realities of the industry and the competitive landscape in which we operate, we must be keenly focused on managing costs and enhancing productivity," says the CEO, who last week hinted that Fairpoint would be open to a sale.

Union workers, as you might expected, weren't particularly happy with the announcement. "FairPoint has failed to meet service quality benchmarks for years, and cutting its skilled workforce by more than 10% will only make matters worse," said Peter McLaughlin, Business Manager of IBEW Local 2327 in Maine. "We are disgusted by this company’s total disregard for its employees and customers."
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davidc502
join:2002-03-06
Mount Juliet, TN

davidc502

Member

Lays off people whist making a lot of money himself

CEO Paul Sunu received almost a half a million dollar bonus in 2014, that includes his 2.5 million dollar compensation package for the year.

»www1.salary.com/Paul-H-S ··· INC.html

telcodad
MVM
join:2011-09-16
Lincroft, NJ

1 recommendation

telcodad

MVM

The other press release

FairPoint Announces Layoff of More Than 10% of Northern New England Workforce
Unions Say Cuts Will Further Erode Service Quality
IBEW/CWA Press Release, FierceTelecom - May 15, 2015
»www.fiercetelecom.com/st ··· 15-05-15
quote:
FairPoint Communications announced today that it will lay off 219 employees in its northern New England operations, which represents more than 10% of its workforce in the region. Members of both the International Brotherhood of Electrical Workers (IBEW) and the Communications Workers of America (CWA) in Maine, New Hampshire, and Vermont will be affected.

Union leaders expressed disappointment at the news and said that the cuts will further erode already severely compromised service quality for the region's telecommunications customers. "FairPoint has failed to meet service quality benchmarks for years, and cutting its skilled workforce by more than 10% will only make matters worse," said Peter McLaughlin, Business Manager of IBEW Local 2327 in Maine. "We are disgusted by this company's total disregard for its employees and customers." ...
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IowaCowboy
Lost in the Supermarket
Premium Member
join:2010-10-16
Springfield, MA

IowaCowboy

Premium Member

Because many people switched to Time Warner

When FairPoint came to Maine, grandma fled and went to Time Warner Digital Phone. Now that her health has declined she is in our cell only household.

She is not the only one that fled to TWC Digital Phone.
pittpete1
join:2009-06-12

pittpete1

Member

You beet me to it David

Paul H. Sunu

Executive Compensation

As Director and Chief Executive Officer at FAIRPOINT COMMUNICATIONS INC, Paul H. Sunu made $2,559,319 in total compensation. Of this total $815,000 was received as a salary, $407,500 was received as a bonus, $583,075 was received in stock options, $738,080 was awarded as stock and $15,664 came from other types of compensation. This information is according to proxy statements filed for the 2014 fiscal year.

ITALIAN926
join:2003-08-16

ITALIAN926

Member

Re: You beet me to it David

.... and now he'll get even more.

crazyeyes
@verizon.net

1 recommendation

crazyeyes

Anon

CEO Pay

well if he laid his own ass off then he could save those 260 jobs..............let's see if he takes a pay cut due to his failing company