WorldCom wouldn’t confirm reports it planned to lay off 10- 15% o...
WorldCom wouldn’t confirm reports it planned to lay off 10- 15% of its 77,000 employees, but Wall St. Journal said Fri. reduction could be announced when company reports its 4th-quarter earnings Feb. 8. “We don’t comment on rumors and…
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speculation,” WorldCom spokesman said. Layoffs are expected mainly in company’s consumer long distance, wholesale and prepaid phone card businesses, Journal said. WorldCom has been struggling with slow revenue growth, falling long distance prices, strong competition. It announced in Nov. it would issue tracking stock for its slower growing businesses such as long distance and concentrate core company on higher profile areas such as data services to business customers.