Level 3 headquarters in Broomfield, as seen in this 2007 file photo. (RJ Sangosti, Denver Post file)
Noted: As part of its , Broomfield’s Level 3 Communications on Wednesday noted that it has about 12,800 employees, or 400 less than in July.
The company, which manages or owns much of the world’s Internet main cables, has spent the year integrating TW Telecom, the Littleton fiber-optic network firm . After the acquisition was final, Level 3 said it employed 13,600 people, including 4,000 in Colorado.
But as integration continued, the company laid off employees, including last month to “drive greater business efficiencies,” the company said in a statement.
Level 3’s headcount has steadily dropped this year. It started at . But that dropped to . Headcount is now at 12,800 — or 800 fewer than immediately after its TW acquisition, according to the company’s third-quarter report.
For the , Level 3 posted flat revenues, at $2.06 billion. Its year-ago pro-forma revenues were $2.04 billion, which include TW’s results. Net income was at $172 million but Level 3 took a $171 million charge to deconsolidate its Venezuelan subsidiary, which was switched to a cost method of accounting. Including the charge, net income was $1 million, compared to the year ago pro-forma income of $81 million.
Earnings ended upbeat with Sunit Patel, Level 3’s chief financial officer, upgrading growth plans for the next quarter. He said the company expects EBITDA growth of 15 to 17 percent, compared to its prior outlook of 14 to 17 percent. That helped Level 3’s stock price jump 9.3 percent Wednesday to close at $51.89.
