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Sprint also announces lay offs

Posted: , by John V.

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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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posted on 20 Oct 2010, 01:42

1. t-won50 (Posts: 25; Member since: 18 Jan 2009)

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

posted on 26 Jan 2009, 15:28

2. phoneguy (Posts: 193; Member since: 08 Jan 2009)

are you a sales rep?

posted on 26 Jan 2009, 15:54

4. VDubb (Posts: 49; Member since: 04 Dec 2008)

Doubt sales reps need to worry about lay-offs.

posted on 26 Jan 2009, 18:38

10. Legion (Posts: 397; Member since: 12 Dec 2008)

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

posted on 26 Jan 2009, 15:50

3. tmofanboy432 (Posts: 139; Member since: 12 Jan 2009)

im not surprised sprint is doing really bad rite now

posted on 26 Jan 2009, 18:19

9. vzw fanman (Posts: 1976; Member since: 11 Dec 2008)

oh well, too bad for them haha lol

posted on 26 Jan 2009, 16:00

5. bigfanboyred (Posts: 141; Member since: 17 Jan 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?

posted on 26 Jan 2009, 16:43

6. stuntz (Posts: 178; Member since: 19 Dec 2008)

hopefully they lay off the customer service reps.

posted on 26 Jan 2009, 16:54

7. insider80 (Posts: 93; Member since: 26 Jan 2009)

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

posted on 26 Jan 2009, 16:59

8. VGirl (Posts: 27; Member since: 14 Jan 2009)

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

posted on 26 Jan 2009, 21:38

11. VZWEMP (Posts: 158; Member since: 11 Dec 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.

posted on 26 Jan 2009, 21:43

12. tmofanboy432 (Posts: 139; Member since: 12 Jan 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

posted on 26 Jan 2009, 23:24

13. VZWEMP (Posts: 158; Member since: 11 Dec 2008)

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

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