Six workers have been laid off at the Bermuda offices of Tycom, the telecommunications subsidiary of the Bermuda-based manufacturing conglomerate Tyco International which had lost 56 percent of its share value this week due to fears over its accounting practices.

This lay-off represents more than a quarter of the local Tyco work force, but a spokeswoman for Tyco in the US said the company was committed to Bermuda and would not be cutting any more jobs.

Spokeswoman Maryanne Kane, told The Royal Gazette: "This is do do with Tycom and is a reaction to the fall off in the tech (technology) market."

Asked if it had anything to do with the recent 56 percent fall in share value, she said: "No, definitely not. There has been no impact on that."

And she maintained that the Tyco headquarters in the Zurich Centre on Pitts Bay Road were safe. "We are committed to Bermuda and this has not affected our Tyco staff in Bermuda."

During the day reports had been emerging that the Bermuda offices were to be closed and all staff laid off, but these proved to be unfounded.

Ms Kane said she did not know how many of the staff that were laid off were Bermudian, but all worked in the customer care area and shared offices with about 20 to 25 local staff from the two companies.

The move is apparently part of a world-wide job cutting which will see 1,000 jobs lost as part of a restructuring aimed at reducing costs and maximising efficiency amid a downturn in the global market, the company said.

TyCom Ltd., which makes undersea fibre-optic cables, has a work force of 2,300 globally. The cuts are less than one-half of one percent of the parent company's worldwide work force of about 247,000. Based in Bermuda, the parent company is run from Exeter, England.

Ms Kane said: "This has been in the planning for quite some time and has nothing to do with events of the last few days."

Tyco, which has suffered through a bout of market concern about financial disclosure and accounting issues, promised Wednesday to answer questions weekly from investors and saw its stock rebound.

Ms Kane said 120 of 250 jobs in Exeter were cut and 350 of the 650 jobs at TyCom's plant in Newington were cut on Thursday. Nearly 600 TyCom workers were laid off in Newington and Exeter last fall.

The balance of the 1,000 layoffs yesterday were at TyCom facilities in New Jersey, Maryland, Oregon, the United Kingdom, Japan and Bermuda, the company said.

"Employees will be offered comprehensive severance packages and outplacement benefits," Kane said. "The company will do all that it can to make the transition for the employees as smooth as possible."