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Windstream Announces Workforce Reduction

^{Published on 2008-12-04 16:52:05 - Market Wire}
 

LITTLE ROCK, Ark.--([ BUSINESS WIRE ])--Windstream Corporation (NYSE: WIN) is restructuring its workforce to adjust to business needs and control expenses in a challenging economy. Windstream is eliminating approximately 170 positions company-wide as part of the reduction effort, which is expected to be complete in the first quarter of 2009.

The company expects to incur a charge of approximately $6 million in the fourth quarter to pay severance benefits to affected employees. Outplacement assistance also will be provided to employees whose positions are eliminated, and employees can apply for other open positions within the company.

Windstream has approximately 7,400 employees overall.

About Windstream

Windstream Corporation is an S&P 500 company that provides digital phone, high-speed Internet and high-definition video and entertainment services to residential and business customers in 16 states. The company has approximately 3.1 million access lines and about $3.2 billion in annual revenues. For more information, visit [ www.windstream.com ].

Information contained in this news release contains financial estimates and other forward-looking statements that are subject to uncertainties that could cause actual future events and results to differ materially from those expressed in the forward-looking statements. These forward-looking statements are based on estimates, projections, beliefs and assumptions that Windstream believes are reasonable but are not guarantees of future events and results. Actual future events and results of Windstream may differ materially from those expressed in these forward-looking statements as a result of a number of important factors outlined under the caption "Risk Factors" in Windstream's Form 10-K for the year ended Dec. 31, 2007 and in other company filings with the Securities and Exchange Commission at [ www.sec.gov ].