📅 - Qwest Communications International Inc. today announced that it expects to reduce its workforce by an additional 2,000 employees through attrition, continued business process improvements and layoffs, bringing the total employee count to 53,000 by September 30, 2002. The decision comes after Qwest received revised financial guidance for the full year 2002.
Qwest forcasts total revenue in the range of $18.0 to $18.4 billion, adjusted EBITDA in the range of $6.4 to $6.6 billion, and capital expenditures in the range of $3.1 to $3.3 billion for 2002. The company is scheduled to announce its results for the first quarter of 2002 on Tuesday, April 30, 2002. ?While we remain optimistic about Qwest's longer-term performance based on the platforms we have built, we want to make our investors aware that current trends will affect our results in 2002,? said Joseph P. Nacchio, Chairman and CEO of Qwest. ?We believe this guidance is realistic, assuming no further deterioration in the regional economy or industry outlook.?
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