Worldcom Inc. announced Wednesday that it is cutting 3,700 jobs from Worldcom group, its business data and telecommunications arm.
The Clinton, Mississippi telecommunications giant made the announcement after published reports Tuesday indicated WorldCom was preparing to layoff as much as ten percent of its 75,000 member workforce.
Tuesdays layoffs are U.S.-based staff positions, said company officials, comprising a total of 6 percent of Worldcom groups workforce. Worldcoms MCI group, the consumer division, is not affected.
With 2002 revenue growth projected to be in the "mid-single digit range," Worldcom said the layoffs were necessary to cut costs.
All employees being laid off will receive a severance package proportional to their duration with the company, said officials.