05:56 PM EDT, 04/23/2024 (MT Newswires) -- Lumen Technologies ( LUMN ) said late Tuesday it intends to trim workforce by less than 7% via involuntary and voluntary separations in a bid to cut costs.

The company expects the initiatives to be substantially completed by the end of Q2, according to a regulatory filing.

Lumen expects to incur severance and related costs between roughly $90 million and $100 million due to the plan, with substantially all to be recorded in Q2.

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