LITTLE ROCK, Ark., Feb. 21 (UPI) -- U.S. communications and data storage firm Windstream said Friday it is trimming its workforce by 400 positions.
The Little Rock, Ark., firm said in a statement on its website it is eliminating the jobs by March 3. About 175 employees took a voluntary buyout, the company said.
Windstream has about 13,500 employees.
The company said it is reducing its workforce to increase its operational efficiency while it focuses on improving its position as a network communications and services provider.
"Changes that affect people are never easy, but they are necessary for Windstream to succeed in a highly competitive marketplace," said Jeff Gardner, Windstream's president and chief executive officer. "We continue to invest in our growth areas, primarily business services and consumer broadband, and at the same time we must maintain a disciplined approach to expense management."
The Fortune 500 company expects to save about $20 million a year through the cuts. It said it would take a charge of up to $10 million in the first quarter, reflecting the employee severance costs.