LG to Trim Expenses by $2.2 Billion
In response to the current economic situation, LG Electronics said that it is looking for ways to reduce expenses. Rather than consider layoffs or slashing capital expenditures, it hopes to save about $2.2 billion by reducing manufacturing costs and trimming unnecessary expenses. LG Electronics, parent company of LG Mobile, said that the company will invest in products that have potential for growth in the future, such as solar power. LG did not say that it would slow down plans to roll out new products, such as its mobile phones.
Claure-Appointed Exec to Depart Sprint
Bob Johnson, Sprint's Chief Experience Officer, will leave the company by the end of April. Johnson was in an early batch of new hires made by CEO Marcelo Claure shortly after he took over the struggling carrier in 2014.
Sprint to Cut Headcount and $2.5 Billion in Costs
Sprint is prepared to reduce expenses by as much as $2.5 billion over the next year, reports the Wall Street Journal, and is likely to cut jobs to help it reach that goal. An internal memo sent to staff by CFO Tarek Robbiati obtained by the Journal said the cuts "inevitably will result in job reductions." Sprint had about 31,000 employees as of March.
Yahoo to Consider 'Strategic Alternatives' for Internet Biz
Yahoo has announced plans to explore strategic options for its internet business, which has struggled to turn a profit in recent years. The company said it plans to improve consumer and advertiser product quality while also increasing the number of daily users.
Sprint Cuts 2,500 Jobs to Reign In Expenses
Sprint has trimmed some 2,500 employees at various job sites, said the company. The cuts were primarily made at its Kansas headquarters and six customer care centers.
Props to LG...