Windstream Corp. said Thursday (May 31) it would pare its management ranks by 375-400 workers, roughly 3% of its total workforce.
The cuts will be completed during the third quarter and the Little Rock-based telecom said the “restructuring” would save $30-40 million annually.
CEO Jeff Gardner said the downsizing would increase the efficiency of decision-making and position the company for longer-term success.
“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 co
mpany for long-term success,” said Gardner.
“We began initial planning for this management review last December. It will make us more competitive and improve our ability to continue growing while delivering the best possible experience to our customers as well as the greatest value to our shareholders,” Gardner said.
Windstream employs about 14,500 companywide. The firm said severance benefits and outplacement assistance will be provided to employees who are not retained. It is initially unclear how many of the job cuts could impact Little Rock, where the company's headquarters is located.