Networking firm Level 3 Communications is to reportedly cut 1400 jobs, or 27 per cent of its workforce.
The firm, which has 5200 employees, also said sales would not meet previous estimates for both 2001 and 2002, according to a Bloomberg report.
Revised figures show estimated revenue figures of around $1.53bn for 2001 and $1.92bn-$2.02bn for 2002.
Previously the firm had predicted sales of around $2bn and $2.52bn-2.72bn respectively.
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