Windstream Announces Workforce Reduction
Windstream has announced that the telco will be eliminating roughly 400 positions by March 3, with about 175 of that total being eliminated via a "voluntary separation initiative." According to a company announcement
, the reductions will provide an "annualized savings of approximately $20 million," though Windstream will take a $9-$10 million hit in the first quarter to pay for employee severance packages. "Changes that affect people are never easy, but they are necessary for Windstream to succeed in a highly competitive marketplace," insists CEO Jeff Gardner. "We continue to invest in our growth areas, primarily business services and consumer broadband, and at the same time we must maintain a disciplined approach to expense management."