Update: Qwest to Cut 11,000 Jobs

Updated from 12:54 p.m. EDT

Telecommunications giant Qwest Communications(Q Quote) said Thursday that it would eliminate 11,000 jobs within the next 15 months as part of a major realignment that follows its recent merger with US West.

The Denver-based company, seeking to streamline its businesses, said it intends to cut 4,500 jobs by the end of 2000 and another 6,500 positions by the close of 2001, about 15% of its total workforce. In addition, 1,800 contractor jobs will be eliminated, the company said.

...