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BROOMFIELD, Colo.–Communications network operator Level 3 Communications plans to cut 1,400 jobs, or 23.7 percent of its work force, in a bid to cut costs and said it expects to lose more this year than had been anticipated.
In a news release Monday, Level 3 said the cuts were part of measures aimed to cut $2.3 billion in costs through 2003. Chief Operating Officer James Q. Crowe said it was responding to the slowing economy.
The company expects its net loss in 2001 to be approximately $7.50
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