EMCC European Monitoring Centre on Change

WorldCom

Company/Organisation:
WorldCom

Geographic Location

Country: World

Company

Sector: Information / communication
Telecommunications
61 - Telecommunications
Number Employed: 60000
Group: WorldCom

Employment Effects

Announcement Date: 04-02-2003
Planned Job Reductions min: 5000
Planned Job Reductions max: 5000
Type of Restructuring: Internal restructuring
Employment Effect Start: 01-03-2003

Additional Information

WorldCom has announced a new restructuring plan cutting 5,000 more jobs. WorldCom is since last July under the American bankruptcy law (Chapter 11). WorldCom wants to reduce its operating costs by 2.5 billion dollars a year. This strategy results in the renegociation of over 2,600 subcontractors contrats. This redundancy plan is the third of WorldCom since June 2002.