Tags: US | Sprint | Layoff | workers

Sprint Gearing up to Lay off Workers

Thursday, 23 Jan 2014 08:37 PM

Wireless carrier Sprint will lay off an undetermined number of its workers as part of a cost-cutting program announced Thursday.

A regulatory filing says the Overland Park, Kan.-based company began drawing up layoff plans last week. A Sprint spokesman says the company's managers are still reviewing how many jobs they will need to cut.

More details could emerge when Sprint Corp. reports its fourth-quarter earnings on Feb. 11.

The purge is expected to be completed by the end of June.

About 39,000 people work at Sprint, the third-largest U.S. wireless carrier.

The cutbacks may be substantial, based on how much Sprint is preparing to pay in severance and other benefits.

Sprint expects to absorb a $165 million hit in the fourth quarter and may take more charges in the future.

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
1Like our page
2Share
Companies
Wireless carrier Sprint will lay off an undetermined number of its workers as part of a cost-cutting program announced Thursday.
US,Sprint,Layoff,workers
130
2014-37-23
Thursday, 23 Jan 2014 08:37 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved