UPDATE 1-Windstream to cut 5 percent of its jobs
* Windstream to cut 5 percent of jobs
* Looking to offset revenue pressure in phone business
NEW YORK, Sept 30 (Reuters) - Windstream Corp WIN.N plans to eliminate 350 jobs, or 5 percent of its employee base, as it looks to offset falling revenue from its declining home phone business and focus more in broadband and enterprise services.
The company, which has about 7,100 employees in total, said on Wednesday it would take a charge of $15 million in the fourth quarter for severance payments and benefits.
It said it would look for volunteers, eliminate open positions and use worker attrition in order to minimize the impact of the cutbacks on workers.
Traditional phone companies, including bigger players such as AT&T Inc (T.N) and Verizon Communications Inc (VZ.N), are all looking to high-speed Internet services for growth as consumers swap home phones for cellphones or rival services such as cable or Internet phones. (Reporting by Sinead Carew; editing by Andre Grenon)
