18.03.2008 13:01:00
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Qwest and Communications Workers of America Announce Voluntary Separation Program Offered to Local Network Employees
Qwest Communications International Inc. (NYSE:Q) and the Communications
Workers of America have agreed to a voluntary separation program to be
offered to certain employees in Qwest’s
traditional local telephone business.
The program, which offers financial incentives based on years of
service, would impact less than 2 percent of the company’s
total work force. The program offer is expected to be completed March 27.
"Over the years, we have turned first to our
natural attrition rate to balance the loss of traditional access lines,”
said Bob Tregemba, Qwest’s executive vice
president of Network Operations. "This program
is part of our continuing effort to match our workforce to our work load.” "We are always saddened by the loss of even
one job, but the continued loss of access lines is a reality of the
entire industry,” said Reed Roberts,
Administrative Director to Vice President of CWA District 7. "With
that in mind we are pleased that we were able to reach agreement with
Qwest on a viable solution that addresses the reality of the marketplace
and provides a voluntary opportunity for those of our members who were
considering either retirement or moving to other endeavors.”
The company is committed to maintaining exceptional customer service
levels and is proceeding with its broadband deployment plans, including
fiber-to-the-node buildout.
About Qwest
Qwest offers a powerful combination of award-winning broadband, video
and voice solutions for residential customers, businesses and government
agencies. Customers coast to coast turn to Qwest's industry-leading
national fiber optic network to meet their evolving communications and
entertainment needs. Qwest employees are the driving force behind the
company’s nationally recognized Spirit of
Service. Qwest is a participant in Networx, the largest communications
services contract in the world, to provide innovative voice, data and
video services. For more information on Qwest please visit www.qwest.com.
For information about the products and services Qwest is offering in the
Networx contract, visit www.gsanetworx.com Forward-Looking Statement Note
This release may contain projections and other forward-looking
statements that involve risks and uncertainties. These statements may
differ materially from actual future events or results. Readers are
referred to the documents filed by us with the Securities and Exchange
Commission, specifically the most recent reports which identify
important risk factors that could cause actual results to differ from
those contained in the forward-looking statements, including but not
limited to: access line losses due to increased competition, including
from technology substitution of our access lines with wireless and cable
alternatives, among others; our substantial indebtedness, and our
inability to complete any efforts to further de-lever our balance sheet;
adverse results of increased review and scrutiny by media and others
(including any internal analyses) of financial reporting issues and
practices or otherwise; rapid and significant changes in technology and
markets; any adverse developments in commercial disputes or legal
proceedings; potential fluctuations in quarterly results; volatility of
our stock price; intense competition in the markets in which we compete
including the effects of consolidation in our industry; changes in
demand for our products and services; acceleration of the deployment of
advanced new services, such as broadband data, wireless and video
services, which could require substantial expenditure of financial and
other resources in excess of contemplated levels; higher than
anticipated employee levels, capital expenditures and operating
expenses; adverse changes in the regulatory or legislative environment
affecting our business; changes in the outcome of future events from the
assumed outcome included in our significant accounting policies; and our
ability to utilize net operating losses in projected amounts.
The information contained in this release is a statement of Qwest’s
present intention, belief or expectation and is based upon, among other
things, the existing regulatory environment, industry conditions, market
conditions and prices, the economy in general and Qwest’s
assumptions. Qwest may change its intention, belief or expectation, at
any time and without notice, based upon any changes in such factors, in
Qwest’s assumptions or otherwise. The
cautionary statements contained or referred to in this release should be
considered in connection with any subsequent written or oral
forward-looking statements that Qwest or persons acting on its behalf
may issue. This release may include analysts’
estimates and other information prepared by third parties for which
Qwest assumes no responsibility.
Qwest undertakes no obligation to review or confirm analysts’
expectations or estimates or to release publicly any revisions to any
forward-looking statements and other statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
By including any information in this release, Qwest does not necessarily
acknowledge that disclosure of such information is required by
applicable law or that the information is material.
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