Windstream to save $30M-plus in management cuts
Arkansas-based telecommunication company Windstream Corp., which has a significant midstate presence, today said it could cut as many as 400 management jobs to save more than $30 million annually on a structure that's top-heavy from acquisitions.
“Windstream has grown rapidly through acquisition, and it is crucial that our management structure be as simple and as responsive to customers as possible as we continue to build this company for long-term success,” President and CEO Jeff Gardner said in a statement.
The cuts are about 3 percent of Windstream’s total workforce of 14,500. The company expects the process to be complete in the third quarter.
It’s too early to know how many of those cuts might be in Windstream’s Pennsylvania businesses, spokesman David Avery said. Those businesses include a midstate presence dominated by the 2009 acquisition of Lancaster County-based D&E Communications Inc. for $333 million, among others.
In December, Windstream acquired New York-based Paetec Holding Corp., another telecom company with about 300 customers in the Harrisburg and York areas, for $2.3 billion.