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

To: StanX Long who wrote (64262)	6/7/2002 2:30:16 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

WorldCom Set To Cut Up to 16,000 Jobs washingtonpost.com By a Washington Post Staff Writer Thursday, June 6, 2002; Page E01 WorldCom Inc., the struggling long-distance telephone company, is preparing to lay off up to 20 percent of its workforce in an effort to bring costs in line with its rapidly declining revenue. Up to 16,000 people could lose their jobs in the layoffs, sources familiar with the plans said yesterday. The company, which has a total workforce of 80,000, could begin informing employees that their jobs are being eliminated in the next two or three weeks, sources said. Like much of the long-distance industry, WorldCom is suffering from a drop in the demand for its services when it is engaged in a price war. WorldCom's revenue declined 20 percent last year, and it is straining under a $30 billion debt load built up during 15 years of rapid growth. WorldCom declined to comment yesterday on specifics of its layoff plans, which were first reported by USA Today. "We certainly look for ways to right-size our business, but to speculate on the details is premature," said WorldCom spokesman Brad Burns.