MCI to cut 7,500

Fresh out of bankruptcy, MCI plans to cut 7,500 jobs this year after recording a $388 million loss for its first quarter, on declining revenue. The carrier blamed excess capacity and ensuing pricing pressures for its subpar quarter. MCI reported first-quarter revenue of $6.3 billion, down from $7.2 billion in the first quarter of 2003. MCI posted net income of $52 million in the first quarter of 2003. In addition to the layoffs, MCI plans to further consolidate its network operations and focus on delivering new IP-based products to its enterprise customers… http://www.nwfusion.com/news/2004/0510mcistrug.html

Fresh out of bankruptcy, MCI plans to cut 7,500 jobs this year after recording a $388 million loss for its first quarter, on declining revenue. The carrier blamed excess capacity and ensuing pricing pressures for its subpar quarter. MCI reported first-quarter revenue of $6.3 billion, down from $7.2 billion in the first quarter of 2003. MCI posted net income of $52 million in the first quarter of 2003. In addition to the layoffs, MCI plans to further consolidate its network operations and focus on delivering new IP-based products to its enterprise customers…

https://www.nwfusion.com/news/2004/0510mcistrug.html

…Like a Web conferencing offering MCI developed with Microsoft. The companies will jointly develop and market systems for communication and collaboration using Microsoft Office Live Meeting that will let Windows users share documents with other users live over a network, starting from any point in an application. The service, called MCI Net Conferencing powered by Microsoft Office Live Meeting, is available now and is aimed at small businesses as well as large enterprises.

https://www.nwfusion.com/edge/news/2004/0511nimci.html

Cisco had a solid third quarter, posting pro forma earnings a penny better than expectations, on revenue in line with those expectations. For the period ended May 1, Cisco recorded sales of $5.6 billion, a 21.7% increase over the same period a year ago and a 4.1% increase from the second quarter of fiscal 2004. Pro forma net income for the third quarter was $1.4 billion, or 19 cents per share, compared with $1.1 billion, or 15 cents per share, for the third quarter of fiscal 2003, and $1.3 billion, or 18 cents per share, for the second quarter of fiscal 2004. Analysts were expecting Cisco’s Service Provider bookings increased in the mid-single digits from the second quarter. The company expects to hire an additional 1,000 employees this year and for revenue to grow 3% to 5% in the fourth quarter.

https://www.nwfusion.com/news/2004/0511cisq3.html