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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (60792)	2/21/2002 1:57:34 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

NTT to Cut as Many as 900 Jobs at U.S. Unit Verio (Update1) By Ian Messer quote.bloomberg.com Tokyo, Feb. 21 (Bloomberg) -- Nippon Telegraph & Telephone Corp., the biggest phone company, said it will cut as many as 900 more jobs at loss-making U.S. subsidiary Verio Inc. and shutter data centers to help make the business profitable by 2005. About 650 workers will be fired at the U.S. data communications company, with the rest of the cuts coming from ``natural attrition,'' said Daniel O'Connor, a spokesman for NTT Communications Corp., the phone company's overseas unit. Following the cuts, the workforce of Englewood, Colorado- based Verio will fall to between 1,700 and 1,800. NTT, Japan's former state-owned phone monopoly, paid about $5.5 billion in cash for control of Verio in September 2000 as part of plans for a global network of data centers offering services to businesses. NTT booked a $4.4 billion charge in the six months ended Sept. 30 to write-down the value of its investment in Verio after demand for Internet services slumped.