BNET Industries
- Private
- US
Dow Jones Description
Located in Clinton, MS. WorldCom is one of the world's largest telecommunications companies with 20 million consumer customers, thousands of corporate clients and 80,000 employees. MCI refers to its long distance service. It also owns UUNet, controlling the wires that Internet service providers use as superhighways to carry Internet traffic between cities and across continents. Even before the recent accounting disclosures, by 2001, WorldCom was already going through financial turmoil due to large debt and declining rates and revenue. Growth in the telecommunications industry was slowing and the company had too much network capacity. The company was deep in debt from an ambitious buying spree. There were also the controversial $408 million loans to CEO Bernie Ebbers to cover his margin calls on loans secured by company stock.
Peer Companies
NAICS Code Wired Telecommunications Carriers: 517110
News & Analysis
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layoff and worldcom inc. - All News and Analysis
Colorado Springs, Colo., Workers May Face Layoffs from Agilent, WorldCom.
- 2003-02-22
By Chris Walsh, The Gazette, Colorado Springs, Colo. Knight Ridder/Tribune Business News By Chris Walsh, The Gazette, Colorado Springs, Colo. Knight Ridder/Tribune Business News
Colorado Springs, Colo., WorldCom Staff Fear Deep Cuts in Next Layoff Round.
- 2003-02-04
By Wayne Heilman, The Gazette, Colorado Springs, Colo. Knight Ridder/Tribune Business News By Wayne Heilman, The Gazette, Colorado Springs, Colo. Knight Ridder/Tribune Business News
WorldCom Employees in Colorado Springs, Colo., to get Layoff Notices.
- 2002-12-06
The Gazette, Colorado Springs, Colo. Knight Ridder/Tribune Business News The Gazette, Colorado Springs, Colo. Knight Ridder/Tribune Business News
Colorado Springs, Colo., Officials Say WorldCom Layoffs May Lead to Other Cuts.
- 2002-07-11
By Chris Walsh, The Gazette, Colorado Springs, Colo. Knight Ridder/Tribune Business News By Chris Walsh, The Gazette, Colorado Springs, Colo. Knight Ridder/Tribune Business News
WorldCom layoffs latest hit on Colorado Springs economy
- 2002-07-05
With a big layoff at WorldCom's Colorado Springs location, the latest blow to the region's sagging economy, still optimistic area economists predict things will improve in the third or fourth quarter, and no later than early next year. Exact numbers are unavailable, but WorldCom reportedly slashed hundreds of jobs in...
WorldCom says Hunt Valley layoffs were planned; state pledging aid
- 2002-07-01
Maryland officials said Friday they are planning to take steps to support about 700 workers who will be laid off in Hunt Valley by WorldCom, the embattled parent company of long-distance phone carrier MCI. David Iannucci, secretary of the Maryland Department of Business and Economic Development, called the layoffs...
WorldCom's 17,000 Layoffs Include 100 Tampa, Fla.-Area Workers.
- 2002-06-29
By Cherie Jacobs, Tampa Tribune, Fla. Knight Ridder/Tribune Business News By Cherie Jacobs, Tampa Tribune, Fla. Knight Ridder/Tribune Business News
WorldCom Layoffs Devastate Georgia Workers.
- 2002-06-29
By Daniella Aird and Robert Luke, The Atlanta Journal-Constitution Knight Ridder/Tribune Business News By Daniella Aird and Robert Luke, The Atlanta Journal-Constitution Knight Ridder/Tribune Business News
Layoffs At WorldCom Cause Concern About Financial Security; American Express Financial Advisors Offer Financial Tips for Wary Workers
- 2002-06-28
Business Editors
Worldcom. (Triangle).(layoffs)(Brief Article)
- 2002-06-01
CARY -- Long-distance telephone company Worldcom has cut 99 of 2,850 jobs at its network management center here as part of a ... CARY -- Long-distance telephone company Worldcom has cut 99 of 2,850 jobs at its network management center here as part of a 4% ...
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