Worldcom slashes $1bn from revenue forecasts

It goes from bad to worse for Worldcom

Troubled telco Worldcom has slashed at least $1bn from its revenue projections for 2002. The company says that it now expects to make between $21bn and $21.5bn this year, down from previous estimates in the region of $22.2bn to $22.6bn. The company is also being investigated by the Securities and Exchange Commission with regards to its accounting practices.