LITTLE ROCK, Ark. – Windstream Corp. (Nasdaq: WIN) is restructuring its management ranks to increase the efficiency of decision-making and position the company for continued success. The company expects to eliminate approximately 375-400 management positions, or roughly 3 percent of its total workforce of 14,500, as part of the restructuring, which is expected to be complete in the third quarter.
“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 company for long-term success,” said Jeff Gardner, president and CEO of Windstream.
“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.
The changes are expected to result in annualized savings of approximately $30-40 million. Severance benefits and outplacement assistance also will be provided to employees who do not have positions in the new structure.