WASHINGTON (dpa-AFX) - Frontier Communications Corp. (FTR) announced a new customer-focused organizational structure and the creation of Commercial and Consumer business units. The company said its updated structure will result in enhanced focus on the commercial segment and more efficient capital allocation. Current regional support functions including Engineering, Finance, Human Resources, Communications and Marketing are being centralized to achieve improved operational performance as well as expense reductions.
Frontier's annualized cost synergy target is now $1.4 billion, up from the prior target of $1.25 billion. Yet-to-be attained cost synergies of $400 million are anticipated to be achieved by mid-year 2019, including $250 million anticipated to be achieved by mid-year 2017.
Copyright RTT News/dpa-AFX
© 2016 AFX News
