A big name in the channel is eliminating 700 jobs – about 6.5 percent of its workforce worldwide – in an attempt to streamline operations and become profitable.
About 150 of the cuts are in Colorado, where Level 3 Communications is headquartered. Overall, the company has more than 10,000 employees on its rolls.
"As our business continues to evolve, Level 3 is focused on aligning our resources to maintain a differentiated customer experience, while also driving profitable growth," the Denver Post reported a Level 3 spokeswoman as saying. "Streamlining our business operations to efficiently and effectively respond to the complex demands of the enterprise market and other core aspects of our business is critical to achieving our long-term objectives."
Level 3 has long been burdened by heavy debt. It hasn't been profitable even once in the 15 years it's been publicly traded.
This is the second job-cuts report from Level 3 this year. The company said in January that 400 people would be out of work as a result of its integration of Global Crossing, the provider it bought two years ago.
Jeff Storey, who was named to replace longtime CEO Jim Crowe earlier this year, has said making Level 3 more efficient is a priority.
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