Qwest to Lay Off 7,000 More, Warns on Revenue
Qwest Communications announced on Thursday that it plans to lay off an additional 7,000 employees, and lowered its revenue estimates for 2001 and 2002.Qwest Communications announced on Thursday that it plans to layoff an additional 7,000 employees, and lowered its revenue estimates for 2001 and 2002. Qwest had already cut 4,000 employees in September. The Denver-based broadband communications company said it expects to reduce its workforce to 55,000 by mid-2002.
The company cited the deteriorating national economy as well as economic problems particular to the 14 Western states in which it provides local communications services, as well as a decrease in demand for wholesale broadband capacity services. Qwest said the layoffs will not negatively impact customer service.