BROOMFIELD — Level 3 Communications Inc. is cutting 150 positions to further “flatten” the organization and cost structure, officials said in the Broomfield-based company’s earnings report today.
Some of those affected by the cuts are directors and those in higher management positions, and include Chief Information Officer Kevin Hart and Grant van Rooyen, president of the content markets group.
About 100 additional positions will be “restructured,” said Jeff Storey, president and chief operating officer of the Broomfield-based communications company. It’s unclear how the restructuring and the layoffs will affect the Broomfield headquarters.
During the first quarter, Level 3 recorded a net loss of $132 million, or 8 cents per share. The loss is narrower than what was reported during the first quarter of 2008, when Level 3 had a net loss of $190 million or 12 cents per share.
Revenue for the most recent three-month period was $980 million, down from the $1.1 million from the same year-ago quarter.
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