CenturyLink Announces Layoffs Post-Level 3 Buy
**Editor’s Note: Please click here for a recap of the biggest channel-impacting merger and acquisition news from September and October.**
CenturyLink on Friday confirmed it is laying off more than 150 employees after the recent close of its $34 billion acquisition of Level 3 Communications.
About 165 employees are being impacted by the layoffs, including 37 in Louisiana, where the company is based. CenturyLink announced the completion of the merger on Nov. 1.
“As a result of our acquisition of Level 3, our customers, from individual consumers to global enterprises, benefit from our expanded, innovative network solutions and our complementary managed services,” said CenturyLink spokesman Mark Molzen. “The combination of the two companies also has meant that we must eliminate redundant positions. As a result, we are eliminating IT positions in product development and technology.”
Employees were notified this week and most will be leaving the company in the next few weeks, he said. They are receiving severance benefits, he said.
With Level 3, CenturyLink has 52,500 employees. It previously had 40,000 employees.
Going forward, about 75 percent of CenturyLink’s core revenue will come from business customers, and nearly two-thirds of its core revenue will come from strategic services. Its network now connects more than 350 metropolitan areas with more than 100,000 fiber-enabled, on-net buildings, including 10,000 buildings in EMEA and Latin America.
Last week, CenturyLink reported smaller profit and revenue for the third quarter compared to the same quarter of last year.
i am seeing first time in India office where centurylink layoff is done from bottom level, all layoff are biased , Indian manager save their favorite people , why no firing at manager ,, lead level…heartless company with heartless Indian management
This company has gone to crap in the last 6 yrs they need to cut management there r so many in needed managers it’s all about numbers here they treat there employees like sh** managers get huge bonuses for numbers and make the employees sale meanwhile the techs in the feild don’t get crap ……..
CenturyLevelLink3 , continues its lay off witch hunt escorting employees out the door with no notice . Some are lucky enough to receive a 30 day notice. Without offering loyal employees who have been with the company for decades a chance to find a position elsewhere within the company The New management welds its Axe as it did at Level3 . The Friendly face of CEO Jeffery Story is for the public while HR and its henchmen operate the chain saw cutting careers with glee.
To whom is CenturyLink going to sell their Nationwide phone and internet service to? Like any utility, this is where their major expense lies, with plant maintenance and employees. Gone are the days of dividends via synergies from local purchases. This stock is a turd.
They Laid off all the most senior employees. Those with 20 & 30 years experience and also the ones with the highest Salary. They are sleeze