first_imgConsolidated Communications,FairPoint Communications, Inc (NasdaqCM: FRP) today announced plans to reduce its workforce over the next several months by approximately 400 positions. Vermont will lose 55 jobs, New Hampshrie will lose 190 and Maine 130. Another 25 positions will be let go in other states.”We value the contributions of our employees and workforce reductions are never easy,” said CEO Paul Sunu. “We are making this decision after careful evaluation to ensure that FairPoint is staffed appropriately to serve our customers well, while prudently managing expenses.”Both management and union employees will be affected across the company. The company intends to notify approximately 100 affected management employees later this month and will follow prescribed steps in the collective bargaining agreement covering union employees. FairPoint has declared an employee surplus affecting approximately 300 union positions.FairPoint expects the reduction in force to result in annualized operating expense savings of approximately $34 million, with the full benefit realized in 2012.The company expects to provide severance or incentive payments to eligible affected employees. The total amount of such payments is expected to range from $7 million to $13 million.About FairPoint Communications, Inc.FairPoint Communications, Inc. (NasdaqCM: FRP) (www.FairPoint.com(link is external)) is a leading communications provider of high-speed Internet access, local and long-distance phone, television and other broadband services to customers in communities across 18 states. Through its fast, reliable network, FairPoint delivers data and voice networking communications solutions to residential, business and wholesale customers. VantagePoint(sm), FairPoint?s resilient IP-based network in northern New England, provides business customers a fast, flexible, affordable Ethernet connection. The VantagePoint(sm) network supports applications like video conferencing and e-learning. Additional information about FairPoint products and services is available at www.FairPoint.com(link is external).CHARLOTTE, N.C. (Sept. 8, 2011) – FairPoint Communications, Inclast_img read more