WorldCom, the nation's second-largest long-distance company, [will] cut about 7,000 jobs (over 9% of its workforce) as it seeks to recover from a slowdown in sales and a federal investigation ... As sales remain sluggish, WorldCom is trying to reduce expenses ... analysts expect sales to grow about 1% ... [but what about the drop in profits with the migration to data services?] In addition to job cuts, capital spending will be cut by $1.5 billion ...