Posted by : Randy Cooper in (CDN)

Level 3 to lay off 450, hires new president/COO

Fiber-and-telecom giant Level 3 will lay off around 450 employees, making up eight percent of its workforce, according to information released by the Broomfield, Colo.-based company on Tuesday.

The layoffs are expected to be confined to North American operations. The CDN (content delivery network delivery markets) groups, which handle video streaming services and the like, are not expected to take any cuts. The layoffs are starting now and should be effected by the end of December.

Monday was, by the way, the first day as Level 3 president and COO for Jeff K. Storey. Storey was most recently with Leucadia National, and was president and CEO of WilTel until that firms sale to Level 3 back in December 2005.

Source: http://www.betanews.com/article/Level_3_to_lay_off_450_hires_new_presidentCOO/1228860231

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