Technology

WorldCom to cut workforce by 20%?

Speculation is mounting that WorldCom, the second largest long distance telephone company in the US, is to cut its workforce by up to 20%. The move is designed to reduce costs at a company that is currently burdened with debts of up to $30 billion. The company's network operations function is expected to hardest hit by the proposed job losses.

CBR Staff Writer June 5, 2002

WorldCom’s senior management is rumoured to be currently working on plans to cut costs. It is anticipated that these plans will be presented to the company’s board of directors in the coming weeks. WorldCom has refused to comment on either the proposed job cuts or the proposed cost savings plan.

This speculation follows the news that WorldCom is to cease its operations in the wireless resale market. The company currently employs 2,200 people in this sector.

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