Level 3 Communications cutting about 700 jobs

DENVER - Level 3 Communications is cutting about 700 jobs as the Broomfield-based Internet operator tries to trim costs and reach profitability for the first time in its 15 years as a publicly traded company.

The reductions will include about 150 positions in Colorado, where Level 3 employs 2,700 people. The company employs 10,600 worldwide.

The Denver Post reports the company cut about 400 jobs last year during its merger with Global Crossing.

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