Reuters - Thursday December 10, 10:14 am Eastern Time
MCI WorldCom to cut up to 3 percent
of workforce
MCI WorldCom, created by WorldCom Inc.'s acquisition of MCI
Communications Corp., previously said it expected to cut $2.5 billion in expenses in 1999. The Jackson, Miss.-based company said it expects to see total cost savings of about $20 billion over five years.
The bulk of the savings will be seen as the two companies combine their networks and reduce line costs, the company said.
''While we are cutting costs in areas like the network and line costs, we are executing an aggressive plan to grow the company -- with new products, services,'' DePeau said. As the company expands in the faster-growing segments of the business, over time, we will be a job creator," she said.
WorldCom, which has grown through the aggressive acquisition of about 50 companies, became a lean and nimble competitor to industry behemoths such as AT&T Corp. (NYSE:T - news) by keeping costs and expenses at a minimum while still creating jobs.
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