Sprint Cutting Jobs

[pennypinch]

I hear that Sprint will soon be cutting as many as 2,500 jobs. Thats not good at all but it sure seems to be the trend lately.

Sprint says they need to cut their labor costs by $350 million a year to stay afloat.

Sprint is the third largest wireless company. They say severance benefits and outplacement services will cost them one time between $60 million and $80 million in the fourth quarter.

They say all levels of the company will be affected in all regions. Most of the cuts will be official before the end of this year.

In the first quarter of this year they had cut 8,000 positions.

They said that they have seen a spike in customer satisfaction and they will make sure that their level of service remains the same.