Windstream To Cut About 400 Jobs

(RTTNews) - Windstream Corp. (WIN) said Friday that it plans to cut about 400 jobs by March 3 to increase operational efficiency, as it continues to focus on becoming the premier enterprise communications and services provider.

About 175 of those job cuts are being carried out through a voluntary separation initiative, the company said.

Windstream currently has about 13,500 employees.

The changes are expected to result in annualized savings of about $20 million. The company expects to incur a charge of $9 million to $10 million in the first quarter to pay severance benefits to affected employees.