Overall, Sprint reported $26 billion in costs for the its fiscal year ended March 31, 2015.
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Worse than the snacks are a freeze on raises, reduced severance pay, and increasing out-of-pocket healthcare costs. Sprint CEO Marcelo Claure recently broke the bad news to employees in a memo obtained by The Wall Street Journal. Lee was one of many speakers at the conference referred to as: “Cuba: The Year in Review and a Look to the Future”, collectively organized by Americas Society/Council on the Americas & the CAF Development Bank of Latin America. Within the next ten years, that number is expected to rise to 5 million travelers a year.
After Verizon made its announcement, Sprint, another major telecommunications provider in the United States, also announced a similar scheme for its subscribers that would like a sip of that Cuban mojito.
The estimated cost savings will be equivalent to about 10 percent of Sprint’s annual operating costs of $25 billion. Sprint’s share price is down more than 20 percent in the past 12 months.
Vivian Iglesias, ETECSA’s director of global services, said payment for the roaming charges will have to go through third parties because of the economic embargo the USA maintains on the communist island.
T-Mobile’s successful marketing lured customers away, forcing Claure to invest in countermeasures, including aggressive iPhone pricing plans and a service where Sprint employees make house calls to help customers buy and set up their smartphones.
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Claure has said he needs to bring down the ratio of sales to expenses, which is considerably higher than its three rivals. Moving forward, apparently that includes fewer goodies in company break rooms.
