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189 Long Before Tech CEOs Turned To Layoffs To Cover AI Expenses, There Was WorldCom

Slashdot
EditorDavid @ Slashdot · today 16:34 EDT

Long Before Tech CEOs Turned To Layoffs To Cover AI Expenses, There Was WorldCom

Long-time Slashdot reader theodp writes:

Jeopardy time. A. This company spurred CEOs to make huge speculative capital expenditures based on wild unverified claims of future demand, resulting in the layoffs of tens of thousands of workers to reduce the resulting expenses, harming their core businesses. Q. What is OpenAI? Sorry, the correct response is, "What is WorldCom?" In 2002, WorldCom, the second largest long-distance company in the U.S., entered Chapter 11 bankruptcy after disclosing accounting fraud.

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