Centurylink Announces Plan to Layoff 1,000 Workers
Centurylink, the communication company that owns the naming rights to the Century Link Center in Bossier City, just announced that it will be cutting it's workforce by 1,000 employees as part of a $24 billion merger with communication giant Level 3. According to the News Star, the tech giant has not announced how this layoff will affect the company's headquarters in Monroe.
When two companies of this size merge, there are several positions that become redundant. The multi-billion dollar deal necessitated an efficiency evaluation of the whole company - in which numerous positions were combined, automated, or eliminated altogether. According to company spokesman Annmarie Sartor, the move will help the company stay competitive.
This move will shave around 2% of Centurylink's workforce. They will retain approximately 49,000 employees worldwide, with operations in 60 countries.