Level(3)'s COO, Kevin O'Hara resigned (fired?) due to some huge systemic problems at L3. O'Hara was a founder and was with the company for 10 years -- a heck of a long time in telecom. The integration (and what Andy calls Analysis Paralysis internally) has resulted in a slowdown of revenue and frustration from partners and customers alike.
While the company is aware of these problems, it has been unable to fix them in a time frame that would have allowed them to take advantage of the opportunity presented by the Mega-Mergers. (XO and GX weren't able to take much advantage either due to their own bureaucracy.)
L3's CFO Patel resigned in October, but is now staying. I guess he is closer to the crown now. Neil Hobbs, the EVP of sales and network services,is now the new EVP of operations. CEO Crowe will assume the title of president. (Big mistake. Crowe is the "visionary" -- what L3 needs is a B2B Practitioner.
GigaOm is speculating about a massive layoff coming.