Tuesday, December 9, 2008

Level 3 Chops 450

Broomfield, Colorado-based Level 3 Communications said late Monday that it has cut 450 employees in North America, or roughly 8 percent of its total employee base. Reason for the cuts were not given, however the firm said that the moves will result in a restructuring charge of approximately $12 to $15M in the fourth quarter. Impact of the firm's Colorado operations was not detailed.