Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
WorldCom has announced a new restructuring plan cutting 5,000 more jobs. WorldCom is since last July under the American bankruptcy law (Chapter 11).
WorldCom wants to reduce its operating costs by 2.5 billion dollars a year. This strategy results in the renegociation of over 2,600 subcontractors contrats.
This redundancy plan is the third of WorldCom since June 2002.
Eurofound (2003), WorldCom, Internal restructuring in World, factsheet number 59495, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59495.