Exhibit 99.1
Citizens Communications
3 High Ridge Park
Stamford, CT 06905
203.614.5600
Web site: www.czn.net
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Contact
David Whitehouse
Senior Vice President & Treasurer
203.614.5708
david.whitehouse@czn.com
Citizens Communications Reports Third-Quarter Charge for Costs
Related to its National Call Center Consolidation Strategy and Other
Ongoing Cost-Containment Activities
Stamford, Conn., October 3, 2007 - Citizens Communications Company (NYSE:CZN)
today announced plans to record a charge of approximately $12 million in the
third quarter of 2007 for severance and early retirement costs related to
ongoing initiatives to enhance customer service, streamline operations and
reduce costs. Approximately 120 positions will be eliminated as part of the
Company's National Call Center Consolidation Strategy, most of which will be
filled by new employees at the Company's other call centers. In addition,
approximately 50 field operations employees have agreed to participate in an
early retirement program and another 30 employees from a variety of functions
will also be leaving the Company. The Company anticipates that these workforce
reductions will result in annualized savings in excess of $7 million. The charge
and the annualized savings also include amounts attributable to an executive's
previously announced departure from the Company.
About Citizens Communications
Citizens Communications Company (NYSE: CZN) operates under the brand name of
Frontier and offers telephone, television and Internet services in 23 states.
More information is available at www.czn.com, www.frontieronline.com, and
www.frontier.myway.com.
This press release contains forward-looking statements that are made pursuant to
the safe harbor provisions of The Private Securities Litigation Reform Act of
1995. These statements are made on the basis of management's views and
assumptions regarding future events and business performance. Words such as
"believe," "anticipate," "expect," and similar expressions are intended to
identify forward-looking statements. Forward-looking statements (including oral
representations) involve risks and uncertainties that may cause actual results
to differ materially from any future results, performance or achievements
expressed or implied by such statements. The foregoing information should be
read in conjunction with the Company's filings with the U.S. Securities and
Exchange Commission including, but not limited to, reports on Forms 10-K and
10-Q. The Company does not intend to update or revise these forward-looking
statements to reflect the occurrence of future events or circumstances.
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