FairPoint to lay off 130 in Maine
FairPoint Communications is laying off 400 employees, including 130 people in Maine, to better match its work force with its workload.
The cuts at the North Carolina-based company also include 190 jobs in New Hampshire, 55 in Vermont, and 25 in other states, according to The Associated Press. Of those 400 jobs, 100 are management positions and 300 are union jobs, and eligible workers will receive severance packages. The cuts shrink FairPoint's work force by 10%, and are expected to save $34 million annually. FairPoint Maine President Mike Reed told The AP that the company is facing increased competition, but said the company is still meeting customer service goals and expanding broadband Internet access. FairPoint reported a $27.1 million loss for the April-June period.
FairPoint bought Verizon's land lines in northern New England in 2008 for $2.3 billion, and filed for bankruptcy in the fall of 2009. The company emerged from bankruptcy in January after shedding about $1.7 billion in debt.
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