Thousands Cut at WorldCom

By  | 

WorldCom announced cost cuts Monday totaling $2.5 billion, including 5,000 layoffs and closing of some facilities.

The bankrupt company will keep intact its Clinton headquarters and major work forces in other cities, including Ashburn, Virginia; Cary, North Carolina; Denver and Colorado Springs, Colorado; Richardson, Texas; and Tulsa, Oklahoma.

The company, which has about 60,000 employees, cut 20,700 positions in 2002.

The cuts are part of WorldCom Chairman and CEO Michael Capellas' strategy to take the telecommunications giant out of bankruptcy within
a few months.