CenturyLink's Level 3 acquisition kills jobs at Infinera [telecom]

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CenturyLink's completion of its Level 3 acquisition is affecting Infinera, which is going to reduce its workforce by 10% as capex spending remains in limbo.

Tom Fallon, CEO of Infinera, told investors during its third-quarter earnings call that the overall consolidation of the service provider market, including CenturyLink acquiring Level 3, is posing near-term challenges for the optical networking company.