Sprint to cut its workforce before this month is out
Sprint, the nation's third largest carrier, will be taking an ax to its headcount before the end of this month. While specific numbers weren't mentioned, it is believed that both management and non-management jobs are in jeopardy. The mobile operator employed 38,000 as of December 31st. The company has already filed with the SEC, its intention to take a $160 million charge against earnings for the third calendar quarter. The charge covers severance pay and other costs related to the job cuts.
Despite talk from its former CEO Dan Hesse that 2014 would be Sprint's year, the carrier has had to look over its shoulder at a fast charging T-Mobile. Sprint also has run into trouble while trying to upgrade its network. Gaps in the pipeline have caused customers to complain, with some leaving to subscribe to other carriers. Back in August, Sprint decided not to fight U.S. regulators, and abandoned all efforts to acquire T-Mobile. Hesse was removed from his position by Sprint's board, and replaced by Marcelo Claure, who promised to cut jobs in an effort to make ends meet.
Back in 2013, Sprint cut 800 customer service jobs. Those cuts were made after the operator shut down its iDEN network, which it acquired with its purchase of Nextel in 2004. That purchase has led Sprint to report seven straight years of losses, totaling $45 billion.
source: WSJ
source: WSJ
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