Business Services Industry
VarTec Telecom confirms 200 layoffs.
Knight Ridder/Tribune Business News, October, 2004
By Vikas Bajaj, The Dallas Morning News Knight Ridder/Tribune Business News
Oct. 20--VarTec Telecom Inc. confirmed Tuesday that it laid off approximately 200 employees this week as it continues to struggle with falling long-distance revenue and rates.
The Dallas-based company, which popularized 10-10 discount long-distance services, will have 1,350 employees in the United States after these cuts.
The company dismissed 400 employees in late May.
VarTec said the cuts came primarily from information technology, marketing, product development and other support functions.
The company estimates revenue will total $900 million this year, according to a memo sent to all employees. The privately held company and its Excel...
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