Advertisement
Singapore markets close in 7 hours 50 minutes

  • Straits Times Index

    3,303.66
    +12.96 (+0.39%)
     

  • Nikkei

    38,354.83
    +175.37 (+0.46%)
     

  • Hang Seng

    19,115.06
    +151.36 (+0.80%)
     

  • FTSE 100

    8,414.99
    -18.77 (-0.22%)
     

  • Bitcoin USD

    62,851.28
    +1,385.18 (+2.25%)
     

  • CMC Crypto 200

    1,290.82
    +30.62 (+2.43%)
     

  • S&P 500

    5,221.42
    -1.26 (-0.02%)
     

  • Dow

    39,431.51
    -81.29 (-0.21%)
     

  • Nasdaq

    16,388.24
    +47.34 (+0.29%)
     

  • Gold

    2,342.50
    -0.50 (-0.02%)
     

  • Crude Oil

    79.37
    +0.25 (+0.32%)
     

  • 10-Yr Bond

    4.4810
    -0.0230 (-0.51%)
     

  • FTSE Bursa Malaysia

    1,602.91
    +2.24 (+0.14%)
     

  • Jakarta Composite Index

    7,099.26
    +10.47 (+0.15%)
     

  • PSE Index

    6,604.25
    +92.32 (+1.42%)
     

Windstream announces cut of 400 positions

Windstream announces cut of 400 positions, 3 percent of company's workforce

Associated Press

LITTLE ROCK, Ark. (AP) -- Windstream Corp. is cutting 400 positions, equal to 3 percent of its workforce.

The company issued a news release Friday that says the cuts will improve its operational efficiency and save about $20 million per year. Windstream expects a first-quarter charge of between $9 million and $10 million to pay severance packages.

Windstream, which has 13,500 employees, says about 175 of the affected workers accepted buyouts.

Windstream President and CEO Jeff Gardner says the company will continue to invest in business services and consumer broadband, two areas of growth. Windstream began as primarily a land-line phone company and expanded into data and internet service.

The laid-off employees will also get outplacement counseling.

Windstream shares were up 9 cents at $7.86 in afternoon trading.