Windstream to lay off 350 nationwide, 38 in Arkansas
Windstream Corp. announced it would downsize its workforce by 350 employees - the second time the Little Rock-based telecom has cut jobs in the past year.
In February, Windstream laid off 400 employees across the U.S., including 67 in Arkansas.
In the latest round of layoffs, Windstream is letting 38 jobs go in state. The company said 120 of the total layoffs were through voluntary retirement.
Nationwide, Windstream employs roughly 13,000 workers. There are 1,300 employees in Arkansas, including 1,100 in Pulaski County.
"We continue to make progress simplifying processes, integrating PAETEC systems and improving operations to drive efficiencies," said Jeff Gardner, president and CEO of Windstream. "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 workforce changes are expected to result in annualized savings of approximately $20 million.
The company expects to incur a charge of $7.5 million in the fourth quarter for severance and other employee benefit costs. The company also will provide job transition assistance to affected employees.
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