ucent Technologies Inc. announced a $7.91 billion loss for the fiscal third quarter and 7,000 more layoffs yesterday, adding another chapter to the seemingly unending tale of the telecommunications industry's woes.

'It's bad, and there's no cavalry coming,' - Another 7,000 Jobs to Be Cut as Lucent

The skeleton staff of bankrupt KPNQwest walked out Friday, leaving the network in limbo amid hopes that its trustees would soon reach a deal to sell the remnants to one of its founders, KPN.
Though the company's employees had previously warned they would start shutting down on Friday what was once Europe's largest data network, they said they would leave it running for now but would not be around if anything went awry.

What a horrible feeling they must have in their stomach....