News : Sprint to Cut 2,000 Jobs
Nov 3, 2014 -- Sprint (NYSE: S) reported a wider loss and slightly less revenue than analysts had expected, and the carrier said it plans to cut another 2,000 jobs. However, the carrier said that its recent pricing overhaul has generated interest, and that its results during September indicate it is beginning to reverse years of subscriber losses.
Sprint reported net operating revenues of $8.5 billion and an operating loss of $192 million, both of which came in below Wall Street expectations. In order to address the situation, Sprint said it is embarking on a cost-cutting plan that it hopes will result in $1.5 billion in cost reductions--that effort will include cutting around 2,000 additional positions. Those cuts are in addition to the 5,000 jobs Sprint cut from January through mid-September.
But Sprint said it continues to hire in select areas. For example, the company said it will open a customer care center in its Kansas City headquarters to target its high-value customers, and is hiring 200 call center works to staff the facility.
Posted by Veronica Silva Cusi, news correspondent
Today's Tip of the Day - Expect Shrinkage
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About Sprint (US):
Sprint is an integrated communications provider. With approximately 70,000 employees worldwide and nearly $27 billion in annual revenues, Sprint is widely recognized for developing, engineering and deploying network technologies, including the United States’ nationwide all-digital, fiber-optic network and a Tier 1 Internet backbone.
Published: Tuesday, November 4, 2014
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