Tue Nov 10, 2009 8:04 am
Sprint, the third-largest U.S. carrier, said it plans to cut up to 2,500 jobs, or 6 percent of its work force, as part of an effort to slash annual expenses by at least $350 million.
The Overland Park, Kan.-based company, which currently employs about 42,000 people, is struggling to regain profitability and subscriber growth.
Last month, Sprint reported a third-quarter loss of $478 million and a drop of 545,000 net subscribers -- most to rivals AT&T and Verizon.
The latest layoffs are mostly positions in wholesale operations, with 60 percent of the cost savings from cutting contractors and outside labor.
In January, Sprint eliminated 8,000 jobs.
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