WorldCom to cut another 5,000 jobs
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Manufacturing News, Source : TheManufacturer.com
Published : 04 Feb 2003 23:05
WorldCom, ranked the second-largest US long-distance phone company, has announced plans to cut an additional 8% its workforce, or 5,000 employees, and approximately $2.5 billion from annual costs in an effort to exit bankruptcy, according to an Investor’s Business Daily report.
The company also plans to downsize its facility space by 26%. It will reduce line costs by 12.5%, and it plans to drop sales, general, and administrative costs by 13%. In the near future, the company said it plans to begin negotiating contracts with approximately 2,600 suppliers. During 2002, WorldCom cut 17,000 jobs.
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