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Form 8-K FAIRPOINT COMMUNICATIONS For: May 15

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May 15, 2015 8:51 AM EDT


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 15, 2015
 
FairPoint Communications, Inc.
(Exact name of registrant as specified in its charter)
 
 
 
 
 
 
Delaware
 
001-32408
 
13-3725229
(State or other jurisdiction
of incorporation)
 
(Commission
File Number)
 
(IRS Employer
Identification No.)
 
 
521 East Morehead Street,
Suite 500,
Charlotte, North Carolina
 
28202
(Address of principal executive offices)
 
(Zip Code)
Registrant’s telephone number, including area code (704) 344-8150
N/A
(Former name or former address, if changed since last report.)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))





Item 7.01
Regulation FD Disclosure

On May 15, 2015, FairPoint Communications, Inc. issued a press release (the "Press Release") announcing workforce restructuring actions that will result in a reduction of approximately 260 positions across the 17 states in which it operates. A copy of the Press Release is attached to this Current Report on Form 8-K (this "Current Report") as Exhibit 99.1 and is incorporated herein solely for purposes of this Item 7.01 disclosure.

The information in this Current Report, including the exhibit attached hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section. The information in this Current Report, including the exhibit hereto, shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any incorporation by reference language in any such filing.
 
Item 9.01
Financial Statements and Exhibits
(d) Exhibits
 
 
 
 
Exhibit
Number
  
Description
 
 
99.1
  
Press Release dated May 15, 2015.






SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 
 
 
 
FAIRPOINT COMMUNICATIONS, INC.
 
 
By:
 
/s/ Shirley J. Linn
 
 
Name:
 
Shirley J. Linn
 
 
Title:
 
Executive Vice President and General Counsel
Date: May 15, 2015






EXHIBIT INDEX
 
 
 
 
Exhibit
Number
  
Description
 
 
99.1
  
Press Release dated May 15, 2015.






Exhibit 99.1




FOR IMMEDIATE RELEASE    
               
Media Contact:
Angelynne Beaudry
(207) 535-4129



FAIRPOINT COMMUNICATIONS ANNOUNCES WORKFORCE RESTRUCTURING

Charlotte, N.C. (May 15, 2015) - FairPoint Communications, Inc. (Nasdaq: FRP), a leading communications provider, today announced workforce restructuring actions that will result in a reduction of approximately 260 positions across the 17 states in which it operates, including the closing of its call center in South Burlington, Vermont. This action, combined with other headcount reductions over the past two years, approximates the level of voice line loss the company has experienced in that period.

“Access lines and legacy revenues are in secular decline, and we are taking these steps to ensure our administrative and operational structures remain aligned with the current size and composition of our business,” said Paul H. Sunu, Chief Executive Officer. “Faced with the realities of the industry and the competitive landscape in which we operate, we must be keenly focused on managing costs and enhancing productivity. These steps, while difficult, help solidify our future. We remain committed to providing great service to business and residential customers and will utilize improved processes to enhance productivity to continue to deliver preferred products and services to our markets,” Sunu concluded.

FairPoint remains focused on transforming its revenue base to more sustainable, data-centric lines of business as technology and customer preferences evolve. To support this focus, the company plans to expand its staffing and support in areas such as the recently-announced data center in Manchester, New Hampshire, and related lines of business.

To assist impacted employees in their transition, FairPoint will provide severance based on years-of-service and will offer outplacement and transition assistance services to eligible employees.

About FairPoint Communications, Inc.

FairPoint Communications, Inc. (Nasdaq: FRP) provides advanced data, voice and video technologies to single and multi-site businesses, public and private institutions, consumers, wireless companies and wholesale re-sellers in 17 states. Leveraging an owned, fiber-core Ethernet network - including more than 16,000 route miles of fiber in northern New England - FairPoint has the network coverage, scalable bandwidth and transport capacity to support enhanced applications, including the next generation of mobile and cloud-based communications, such as small cell wireless backhaul technology, voice over IP, data center colocation services, managed services and disaster recovery. For more information, visit www.FairPoint.com.

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