Sprint Trimming Work Force By 8,000
Jan 26, 2009, 8:31 AM by Eric M. Zeman
Today Sprint announced that it is taking drastic cost-cutting measures in an effort to save money. Part of the cost cutting comes in the form of staff reductions. Sprint will layoff 8,000 employees by March 31, with about 10% of that figure coming through the voluntary separation plan announced in late 2008. Sprint said the layoffs will hit every level of its business. Other cost-cutting measures include a freeze in salary increases, a freeze in 401(k) matching, and a freeze in its tuition reimbursement program. Sprint has lost millions of customers over the last year. It will announce its fourth quarter results February 19.
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