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WorldCom Axing More Employees In Bid To Exit Bankruptcy.(A)
Byline: THE ASSOCIATED PRESS
WorldCom Inc. said Monday it will cut 5,000 more jobs, or 8% of its work force, under a plan to emerge from bankruptcy in April.
The cuts are part of $2.5 billion in cost cuts the telecom giant announced Monday and are the first major moves by new Chairman and CEO Michael Capellas. The savings will come through consolidation of facilities, though the company said it will maintain all its major offices -- including its Clinton headquarters, Washington-area offices and operations in Denver and Colorado Springs, Colo.; Richardson, Texas; Tulsa, Okla.; and Cary, N.C.
WorldCom, which is losing about $200 million a ...
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