Struggling communications firm WorldCom has announced it is to axe 2,000 jobs across EMEA as part of a business restructuring strategy.
The firm's plan is to "emphasise profitability over revenue growth" by discontinuing unprofitable products in EMEA and focusing on its retail, wholesale voice and IP, and data services.
Jobs in the region will be cut from 8,000 to 6,000. Company executives have said WorldCom's operations in EMEA remain "fully funded" and are expected to be "cashflow-positive" in 2003.
Before announcing his resignation earlier this month, John Sidgmore, WorldCom's chief executive, said: "We have made significant infrastructure investments in EMEA over the past few years.
"We plan to leverage this solid foundation to ensure our long-term viability in this critical business region of the world."
Lucy Woods, WorldCom's senior vice-president EMEA, said: "With our world-class global assets, the ability to service new and existing customers as well as ever before, and a solid financial foundation, WorldCom EMEA continues to provide a leading competitive alternative to the marketplace."
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