FairPoint Communications Layoffs 2016: 100 Job Cuts
Consolidated Communications announced plans to acquire FairPoint for $1.5 billion earlier this month. The deal extends Consolidated’s fiber coverage to 35,100 miles across 24 U.S. states. The combined companies also boast data center, managed and wireless services. It’s one of the biggest M&A buyouts involving managed services that we’ve seen this year.
Still, FairPoint’s legacy telecom business is under pressure from cloud, mobile and wireless technologies. FairPoint on Dec. 23 said it understands the personal impact of layoffs but says they address declining revenues and the realities of the telecommunications industry, according to The Associated Press.