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Sprint to lay off over 2,000 before the year is up
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#1
11-10-2009
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Sprint to lay off over 2,000 before the year is up
After reporting a third-quarter loss of $478 million and 545,000 customers, Sprint plans to let go between 2,000 and 2,500 people -- about 6% of its 42,000-strong workforce -- by the end of this year. The company expects the job cuts to reduce annual expenses by $350 million, and it will dole out $60 million to $80 million in severance payments during the fourth quarter.
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