As its traditional consumer wireline revenues continue to decline, Cincinnati Bell (NYSE: CBB) completed a company restructuring process that eliminated 50 positions.
In addition to the job cuts, the telco also has realigned its operations into two units: communications and technology solutions.
Cincinnati Bell's communications group, which will be led by Ted Torbeck, president and general manager, will include its wireline and wireless operations. Torbeck came to Cincinnati Bell in September following a career at firearm manufacturer Freedom Group.
In the technology group, Cincinnati Bell will house the colocation and managed services it provides to large business clients. The technology group will be co-led by current CBTS president John Burns and Dave Ferdman, president of CyrusOne, a data center colocation provider Cincinnati Bell acquired this past June.
Cincinnati Bell's latest restructuring process and layoffs shouldn't come as all that much of a surprise. Last December, the service provider announced it would lay off an unspecified amount of employees and implement a hiring freeze as part of a larger 2010 cost cutting program. What's more, the restructuring signals a telecom industry-wide shift to focus on emerging opportunities including data center services.
"Over the past five years, we have added employees to support growing parts of the business and reduced jobs where revenue has declined, such as in consumer wireline operations," said Jack Cassidy, CEO of Cincinnati Bell.
For more:
- see the release
- Business Courier has this article
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