- As many as 11,500 WorldCom employees -- about 15% of the company's 77,000-member workforce -- are expected to be laid off as part of a company restructuring, a published report says.
WorldCom plans to report fourth-quarter earnings next week and could announce the layoffs then, according to The Wall Street Journal. Quoting people familiar with the situation, the Journal says the cuts are expected to largely affect slower-growth businesses, including consumer long-distance services.
WorldCom spokesman Charlie Sutlive says the company had no comment on the report.
In November, WorldCom announced plans to reorganise in order to fine-tune its operations, including its intention to create two publicly traded tracking stocks, one to measure businesses the company considers high-growth, such as data communications, the other to reflect the performance of consumer and long-distance services.