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US Sprint cuts 2,000 jobs on sharp loss
(MENAFN) US third largest wireless carrier Sprint announced cutting around 2,000 jobs in a streamlining effort after logging a USD765-million quarterly loss, AFP reported.
Sprint has been forced to cut some of its monthly mobile plans to keep up with T-Mobile and others in the sector, as it reported losing a large number of its most well-paid customers amid price wars in the wireless sector.
The plan includes a comprehensive review of all expenses to optimize its cost structure, aimed at trimming USD1.5 billion in costs, and a reduction in the workforce of 2,000 positions.
"Entering the quarter, the company faced challenges related to competitive positioning and adverse impacts to the customer experience resulting from its comprehensive network upgrade," the company said.
Sprint has been forced to cut some of its monthly mobile plans to keep up with T-Mobile and others in the sector, as it reported losing a large number of its most well-paid customers amid price wars in the wireless sector.
The plan includes a comprehensive review of all expenses to optimize its cost structure, aimed at trimming USD1.5 billion in costs, and a reduction in the workforce of 2,000 positions.
"Entering the quarter, the company faced challenges related to competitive positioning and adverse impacts to the customer experience resulting from its comprehensive network upgrade," the company said.
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