Teleglobe announced plans yesterday to restructure itself under bankruptcy protection. It also laid off 850 employees, shut down its data operations and accepted the resignation of its chief executive. Teleglobe filed for bankruptcy protection in Canada and had a hearing in U.S. Bankruptcy Court in Delaware yesterday. Teleglobe will file for US bankruptcy protection shortly and in the UK on Friday. "We will renew our focus on our core [voice] business. By doing this, Teleglobe will free itself from the high cost of its recently built infrastructure that was primarily developed to support its data and hosting operations we are discontinuing." Teleglobe to File For Bankruptcy | 
