Sprint also announces lay offs

Sprint also announces lay offs
It’s quite hard to come by nowadays with a way to produce a profit for Wall Street. Companies all over the world are figuring out ways to reduce cost, save money, and make a profit after all is said and done. Sprint Nextel announced today that it is cutting 8,000 jobs by the end of March to save the company $1.2 billion in annual labor costs. And it’s not just the little people that are getting the ax! Kathy Walker, Chief Information and Network Officer, will be one of the first Sprint executives to be terminated without cause. In addition, they are suspending pay increases and matching contributions to retirement funds as part of its cost savings effort. All in all, roughly $300 million dollars would be incurred for severance and related costs in the quarter. This news comes as a blow with only months before the Palm Pre is released to an anxious market. Everyone is trying to cut costs as much as possible; and Sprint is not prone to the global economic slump. They are following the lead that other major companies are doing in order to stay afloat in these troubling times.

source: Sprint

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13 Comments

1. t-won50

Posts: 25; Member since: Jan 18, 2009

anyone hiring looks like im going to need to find a new job?

2. phoneguy

Posts: 213; Member since: Jan 08, 2009

are you a sales rep?

4. VDubb

Posts: 49; Member since: Dec 04, 2008

Doubt sales reps need to worry about lay-offs.

10. Legion

Posts: 397; Member since: Dec 12, 2008

The closer you are to the register the safer you are.

3. tmofanboy432

Posts: 139; Member since: Jan 12, 2009

im not surprised sprint is doing really bad rite now

9. vzw fanman

Posts: 1977; Member since: Dec 11, 2008

oh well, too bad for them haha lol

5. bigfanboyred

Posts: 141; Member since: Jan 17, 2009

everyone is hurting... you'll see, everyone is gonna be cutting jobs if theyre not doing it already. 10% everywhere... due to the "crisis"...its gonna get worse before it gets better. hopefully this means that the major providers will slash the prices to compete against each other... we'll see?

6. stuntz

Posts: 178; Member since: Dec 19, 2008

hopefully they lay off the customer service reps.

7. insider80

Posts: 93; Member since: Jan 26, 2009

the layoffs will not be affecting customer facing employees its mostly sales support and other divisions

8. VGirl

Posts: 27; Member since: Jan 14, 2009

i havent herd anything from Verizon yet, about lay offs.

11. VZWEMP

Posts: 158; Member since: Dec 11, 2008

i dont think any verizon employees have anything to worry about. seeing as we are the only major carrier thats currently hiring in ALL channels. Verizon Communications is hiring as well. Im sorry to hear about the lay offs. People losing their jobs nowadays is no laughing matter.and "VZW FANMAN" you seem a bit immature and insensitive.

12. tmofanboy432

Posts: 139; Member since: Jan 12, 2009

well tmobile was the first phone company to voted in the top 100 places 2 work they wuz number #96 so they also hav nothing 2 worry about

13. VZWEMP

Posts: 158; Member since: Dec 11, 2008

yea...having the second highest churn rate in the industry is nothing to worry about...

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