Level 3 Cuts 8% Of Workforce


Telecommunications provider Level 3 Communications will lay off about 450 employees, or 8% of its total workforce, across multiple levels in the organization and at multiple locations in North America before the end of the year, the company announced Monday.

The action will result in a restructuring charge of between $12 million and $15 million in the fourth quarter 2008, Level 3 said. The company provides fiber-based communications services, including transport, data, Internet, content delivery and voice.

Level 3’s layoffs are the latest in a blizzard of pink slips across industries. Last week, AT&T said it will shed 12,000 jobs, while Viacom, NBC Universal and others also announced layoffs.