MCI Announces Job Cuts Totaling 7,500

[UpInArms]

http://www.kotv.com/main/home/stories.asp?whichpage=1&id=62137

(Ashburn-AP) -- MCI says it will eliminate 7,500 jobs this year in an attempt to cut costs in the face of weak revenues.

The job total represents about 15% of the telecommunications company's total work force.

The company reported a loss of $388-million in its first quarterly earnings report since it emerged last month from nearly two years of bankruptcy protection.

The loss compared to a net profit of $52-million in the year-ago quarter. The company says the weaker performance stems from the intense competition on prices within the industry, resulting in lower revenues.

The company expects to eliminate all 7,500 jobs in the second half of the year. The company employs about 50,000 workers, and announced layoffs of about 4,500 workers in March.

...more...

[Just Me]

1. All that taxpayer money that went to save that corporation's ass,...

,...all those newly laid-off employees. Are we beginning to see how the system works, now? Funnel public wealth to the top which screw the bottom.

America: Love It or Leave It.

[UpInArms]

2. here's one that I posted earlier today

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=544813&mesg_id=544813

(Ohio) Plant praised by (Gov) Taft for saving jobs announces layoffs

http://www.sunherald.com/mld/sunherald/business/8632550.htm

BEDFORD HEIGHTS, Ohio - A factory praised by Gov. Bob Taft for saving jobs laid off workers just days before Taft visited the suburban Cleveland tool and die plant, the idled employees said.

Last month Taft announced that 168 jobs at Lester Precision Die Casting were being retained with the help of $1.7 million in loans from the state and county. The former Metaldyne plant was scheduled to close before Lester took it over this year.

<snip>

The Lester plant promised to retain 168 jobs and add another 82 within three years. Milo Williams, who was laid off two days before Taft's visit, estimated that the plant now employs 115 people.

Erik Bloomfield, Lester's general manager, declined last week to discuss the loan or jobs at his company, The (Cleveland) Plain Dealer reported. A message seeking comment was left for him Monday at his office.

...more...

disgusting pigs - take the taxpayers' dollars, fire the workers, forget their part of the picture :mad:

[Just Me]

5. As I have said before, we are living in an economic cannibalism,...

,...where the economy is consuming itself along with all the people in it. We are moving towards something far worse than the "communism" we spent so much blood and national treasure defeating. We are becoming something totally new: "consumptionism".

[Nlighten1]

3. It isn't going to stop either...

I just got back from one of my manufacturing clients...they are moving ALL of their production plants to Mexico and China.

[chiffon]

4. My poor brother

He just got hired by MCI late last year. I am sure he will be one of the first to go, and he has 3 kids under 18.

[newyawker99]

6. Hi chiffon!!

Welcome to DU!! :toast:

[fudge stripe cookays]

7. Hi Chiffon--

Welcome to DU.

I'm so sorry about your brother, if he really does get it.

One of my friends at work has a husband who works there who's managed to hang in there at MCI. I'm wondering how he'll do this time. At least their house is paid off.

FSC

[leesa]

8. Yup. The economy is just peachy!

Jobs. We don't need no stinkin jobs!