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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worker and worldcom inc. - All News and Analysis
WorldCom lets go another 200 workers
- 2003-03-03
Approximately 200 WorldCom employees at the company's Weldon Spring facility lost their jobs Friday. The company told state officials that the workers were laid off because there was a "lack of work" for them, the Missouri Department of EconomicApproximately 200 WorldCom employees at the company's Weldon Spring facility lost their...
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
WorldCom Lays Off 500 Colorado Springs, Colo., Workers.
- 2002-12-07
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 Lays Off 500 Workers in Colorado Springs, Colo.
- 2002-12-07
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 Workers Fret over Next Checks.
- 2002-08-17
By Sanford Nowlin, San Antonio Express-News Knight Ridder/Tribune Business News By Sanford Nowlin, San Antonio Express-News Knight Ridder/Tribune Business News
Former WorldCom Executive's Arrest Leads to 'Mixed Opinions' among Workers.
- 2002-08-02
The Palm Beach Post, Fla. Knight Ridder/Tribune Business News The Palm Beach Post, Fla. Knight Ridder/Tribune Business News
Former Cary, N.C., WorldCom Workers Become Eligible for Jobless Benefits.
- 2002-07-28
By Karin Rives, The News & Observer, Raleigh, N.C. Knight Ridder/Tribune Business News By Karin Rives, The News & Observer, Raleigh, N.C. Knight Ridder/Tribune Business News
WorldCom cuts Aussie staff.
- 2002-07-02
ABIX via COMTEX) -- US telecommunications company, WorldCom, has retrenched some of its Australian workers. However, the company refused to release details of its retrenchment program. The first group of redundant workers left the Australian operatio ABIX via COMTEX) -- US telecommunications company, WorldCom, has ...
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...
Thirty Sergeant Bluff, Iowa, MCI Workers Lose Jobs as WorldCom Scandal Grows.
- 2002-07-01
Omaha World-Herald, Neb. Knight Ridder/Tribune Business News Omaha World-Herald, Neb. Knight Ridder/Tribune Business News
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