Sprint starts to lay off workers as new cost-cutting plan begins
According to regulatory filings, Sprint's managers are still trying to decide just how many employees will receive pink slips. The layoffs will continue through June and in the filing, Sprint said that it will take a charge of $165 million in the fourth quarter to cover severance payments. More charges could take place in future quarters.
Sprint currently has 39,000 workers, and based on the amount of the severance charge, and the possibility of more layoffs taking place until the summer, that figure could be sharply reduced by the time this year's third quarter begins in July.
7. ScottSchneider (Posts: 323; Member since: 06 Dec 2011)
Actually that was funny... Congratulations.. You have been awarded the opportunity to look for a new job.... ~_~
2. hurrycanger (Posts: 1301; Member since: 01 Dec 2013)
By the time they've purchased T-mobile, they wouldn't have any Sprint workers left.
3. Derekjeter (Posts: 334; Member since: 27 Oct 2011)
I guess that huge deal with Apple is taking it's toll. Remember Dan Hesse words "if we had the iPhone we would be successful too" guess not. Sprint should just be sold in parts to the other carriers. What a joke.
10. QWIKSTRIKE (Posts: 916; Member since: 09 Mar 2010)
Agreed, this deal was Hesse biggest gamble gone wrong. Everything else he did was fine. You can't fault him for Wimax if you understand the particulars about it. Light Squared was beyond his control. iPhone was a desperate move that cost him his legacy as an effective CEO.
Had he done due diligence he would have noticed that iPhone sales were declining. He over paid when he could have bargained for way less for a product in decline. The money he put into iPhone should have been used to build out Network Vision more vigorously.
11. Mxyzptlk (Posts: 4174; Member since: 21 Apr 2012)
Without the iPhone, sprint would have been dead.
16. corporateJP (Posts: 1877; Member since: 28 Nov 2009)
Outside the United States, the iPhone is an oddity. In many countries, it is unfavorable. Sprint made a mistake following the volatile trends in the United States. It doesn't help their network is horrible either.
19. reckless562 (Posts: 1011; Member since: 09 Sep 2013)
yea. the sprint network could be alot better nationally
4. Sparhawk (Posts: 75; Member since: 10 Mar 2012)
"Sprint starts to lay off workers as new cost-cutting plan beings". So nice of Sprint to create so many "new cost-cutting plan beings" instead of letting them continue to be employees. So nice.
6. Kishin (Posts: 649; Member since: 30 May 2013)
They will lay off all thier workers then let T-mobile take control.
8. Mrmark (Posts: 164; Member since: 26 Jan 2013)
Fire sprint CEO and appoint T Mobile CEO over operations In the USA and watch the stocks rise .... Otherwise all is lost . .... BTW bring Nokia Windows phone to Sprint.
12. tigermcm (Posts: 760; Member since: 02 Sep 2009)
1 or 2 reasons I left Sprint, that and initially they didn't want WP
17. tokuzumi (Posts: 351; Member since: 27 Aug 2009)
Poor Sprint. If they would just fix their network, and make it as good/better than Verizon/AT&T, price their plans cheaper than Verizon/AT&T, they wouldn't know what to do with all the cash. Hopefully, Softbank won't just drain Sprint of their resources, and spin them off with nothing, much like Daimler did with Chrysler.