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CNN Live Today

Andersen to Lay Off 7,000 Workers

Aired April 08, 2002 - 13:26   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
KYRA PHILLIPS, CNN ANCHOR: In the aftermath of the Enron scandal, the accounting firm Arthur Andersen has just confirmed it will layoff about 7,000 employees. CNN financial correspondent Ceci Rodgers is following this story from Chicago.

CECI RODGERS, CNN FINANCIAL NEWS CORRESPONDENT: Kyra, the company finally making the announcement that has been well anticipated for several weeks now, that it will lay off 7,000 of its estimated 26,000 U.S. workers. That is about 25 to 30 percent of its U.S. workforce. The company says it will conduct the layoffs over several months. The pink slips are already going out today.

We talked to a number of workers in front of the headquarters building who did expect to be laid off today and, in fact, had been informed by their bosses that they would be getting layoffs and severance packages, one week for every year served at Andersen.

Now, the firm really had no choice. It has been losing clients at a break-neck pace. Over 130 clients have left the firm in the wake of an indictment, a criminal indictment for allegedly destroying documents in the Enron case -- Kyra.

PHILLIPS: Ceci Rodgers, thank you.

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