WorldCom to cut 1,000 jobs in Europe
- Posted:
- 12:08 03 Oct 2001
According to a statement from the company, the decision stems from reduced capital expenditures anticipated from the completion of WorldCom's international networks and an attempt to streamline operations across countries.
"We will not disclose a detailed number before we disclose that to the employees," said a company spokesman.
The company would not specify in which countries the job cuts might take place, but said the distribution of redundancies was dependent on a consultation process with employee councils required by law in the various countries. However, some newspapers have speculated that the company may make a substantial number of job cuts in the UK.
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WorldCom posted lower second quarter net income for its data services division, and a loss in its long-distance business, citing pricing pressures and stiff competition.
The company announced plans to lay off some 6,000 US employees earlier this year.
