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To: stock_bull69 who wrote (3556)	12/11/1998 4:16:00 PM
From: Anthony Wong	Respond to of 11568

Network Computing - MCI WorldCom To Cut About 2,000 Jobs Friday, December 11, 1998 MCI WorldCom will lay off about 2,000 employees at the end of the month, the No. 2 U.S. long distance carrier said Friday. "The layoffs will affect approximately 2,000 in dozens of locations. Employees will be notified today," said Jamie DePeau, MCI WorldCom spokeswoman. No facilities will be closed, she said. The job cuts will be felt primarily in network operations, where the merged companies experience the most duplication. Software engineers and programmers will be most affected. In Richardson, Texas, 300 workers will be laid off; in Cary, N.C., 150 workers; in Tulsa, Okla., 120; in the Washington, D.C., area, where MCI's headquarters were located, 60, according to DePeau. WorldCom bought MCI last year in a $37 billion stock deal, creating a dynamo in long distance, local phone service for business, international calls, and an Internet backbone to carry voice and data. Federal regulators approved the merger three months ago, and analysts anticipated even larger layoffs. The merged company will extract savings because both companies combined similar operations, but also because other operations complement each other, making it no longer necessary to lease local Bell lines to complete some calls. MCI WorldCom CEO Bernie Ebbers, based in Jackson, Miss., has built his empire through dozens of acquisitions -- subsequently trimming duplications and corporate "fat." Ebbers has said he wanted to slash $2.5 billion in expenses in 1999 and $20 billion through 2002. On the Nasdaq, MCI WorldCom was up 1 1/16 to 63 13/16 in morning trading. -- Mary Mosquera, TechWeb nwc.com

To: stock_bull69 who wrote (3556)	12/11/1998 4:20:00 PM
From: Anthony Wong	Read Replies (1) \| Respond to of 11568

Steve, more new highs to come in the next few weeks, IMHO. I'd like higher volumes, though.

To: stock_bull69 who wrote (3556)	12/11/1998 4:30:00 PM
From: Anthony Wong	Respond to of 11568

Update from CNET news.com at 3;30 pm ET: news.com Excerpts: Industry analysts agreed that MCI had become somewhat bloated and expected a reduction in expenses, as promised by MCI WorldCom chief executive Bernard Ebbers. Some analysts were surprised at how quickly he moved to reduce expenses. Still, the cuts were necessary, most analysts agreed, noting that when two similar companies merge, there is bound to be some overlap. "This is how you get some cost savings," said Phil Wohl, a telecommunications analyst at S&P Equity Group. "But since it came even quicker than expected, it will be even better for the company moving forward."