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Sprint -11.2% as it plans to cut 7% of workforce
In November 2014, Sprint said it would fire 2,000 employees.
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― Reuters picKANSAS, Jan 26 ― Sprint Corp has axed at least 2,500 jobs across six customer care centres and its Kansas headquarters as part of its plan to cut US$2.5 billion (RM10.7 billion) in costs, a company spokeswoman said yesterday.
“Unfortunately, as we’ve said over the past several months, the effort to reduce our costs would impact all areas of our business, including jobs”, Boyd said in a statement. “We value and support our employees and are committed to assisting them through this transition with separation benefits and outplacement services”.
Sprint will retain about 6,000 employees at its headquarters, according to the Kansas City Star. The rest of the jobs apparently affect employees at various care centers around the country, including in Colorado, New Mexico, Tennessee, Texas and Virginia.
“Sprint is in the middle of a multi-year turnaround strategy”.
Sprint is scheduled to release its quarterly results tomorrow morning, and the carrier will likely provide details on its plans then. It had a little more than $2 billion of cash and short-term investments on its books as of the end of September, which is about equal to the debt it has to refinance in 2016.
The layoffs announced Friday are part of the second wave of cost-cutting since Marcelo Claure became Sprint’s CEO.
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Sprint said this job reduction would not include Chicago. It is an initiative to cut cost inorder to save $2.5 million.