DENVER (AP) _ Qwest Communications International said Monday it was cutting 4,000 jobs, or 6 percent of its work force, and lowered its financial forecast for the fiscal year, citing deteriorating economic conditions.

The Denver-based telecommunications company said it expected 2001 revenue of approximately $20.5 billion and earnings of about $8 billion.

Qwest had forecast revenue of $21.3 to $21.7 billion for 2001. For fiscal 2000, Qwest earned $995 million on revenues of $18.95 billion.

In early trading Monday, Qwest shares rose 18 cents to $18.32 a share on the New York Stock Exchange.

To help offset the expected declines in revenue and income growth, Qwest said it would reduce its work force from 66,000 to 62,000 by the end of the first quarter of 2002. It also will eliminate 1,000 staff positions while adding 1,000 sales executives in its global business unit.

The company also plans to cut capital spending in 2001 from about $8.8 billion to $8.5 billion and reduce its capital budget from about $7.5 billion to about $5.5 billion. That should result in positive cash flow by the second quarter of 2002, six months sooner than previously announced, Qwest said.


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