Qwest Cuts 1,700 Jobs

Qwest Communications’ Q4 net income dropped 49.5% as the telecommunications provider cut 1,700 jobs, more than it had originally forecast.

The 1,700 job cuts brought the full-year total to 11% of the work force. In October, the company had announced plans to cut 1,200 jobs during the quarter.

The Denver, Colorado-based company also said it won’t make any cash contributions to its pension plan this year.

Qwest, one of three remaining Baby Bell companies, posted net income of $185 million, down from $366 million a year earlier.