US WorldCom Begins Laying off Employees

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Last updated at: (Beijing Time) Saturday, June 29, 2002

US WorldCom Begins Laying off Employees

U.S. long-distance telecom giant WorldCom Inc. began laying off 17,000 workers worldwide Friday, after a week's massive repercussion of its financial scandal across the world.

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U.S. long-distance telecom giant WorldCom Inc. began laying off 17,000 workers worldwide Friday, after a week's massive repercussion of its financial scandal across the world.

WorldCom confirmed Tuesday that its internal auditors had found that 3.8 billion dollars was wrongly listed on its books as capital expenses in 2001 and 2002. That means WorldCom may have lost millions of dollars when it reported profits.

On Friday, the company eliminated about 1,300 jobs in Virginia, 1,000 in Texas, nearly 700 in Maryland and 500 in Colorado. In other states, the numbers ranged from a few to a few hundreds. The cuts account for about 20 percent of the work force of the Clinton- based company, which operates in 65 countries.

The company employs 2,000 people in Mississippi. That number was reduced by about 100 on Friday.

Former employees leaving the company in Clinton said they were "angry" and the atmosphere was "emotional" in TV interviews.

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