Teleglobe Inc. is running out of cash, is preparing to lay off 40 percent of its workforce -- about 800 employees -- early next week, and may file for bankruptcy protection within 10 days. "Our situation changed absolutely -- 100 percent -- overnight. It's definitely been turbulent as we go through a tough time." Liquidation is a likelier scenario than a buyout, since "there are not a lot of takers right now." Company official: "Chances of Teleglobe surviving are slim." ... "Everything's sort of dead." Half the employees no longer show up for work. Done? Done done. And not a moment too soon. | 
