Level 3 Communications says it will cut its workforce by about 70 people as part of a reorganization.
Stephanie Walkenshaw, Level 3’s media relations manager, confirmed the layoffs Thursday. Level 3 laid off an unspecified number of workers last September, one year after its acquisition of tw telecom.
“We announced a reduction of approximately 70 people as part of a reorganization to streamline our North America operations to better serve our customers,” she said. “We are continuously evaluating opportunities to drive greater operational efficiencies to meet the needs of our business and bring us closer to our customers.”{ad}
Level 3 wouldn’t disclose the types of jobs being eliminated. As of Dec. 31, 2015, the company had about 12,500 total employees, down from about 13,500 at the end of 2014.
For its second quarter, Level 3 reported $149 million in profit compared to a $13 million loss for the same quarter in 2015.
In July, analysts were buzzing about possible M&A. Wells Fargo analyst Jennifer Fritzsche said she saw Level 3 as more of a near-term buyer than seller. There’s been no M&A talk since then.
