Sprint announces 8,000 job cuts for the first quarter of the year
After AT&T, which announced 12,000 job cuts back in December, it’s now time for Sprint to face the economic downturn and take actions to reduce its expenses.
The third largest North American mobile carrier will lay off around 8,000 people, with most of the jobs being cut before March 31.
As a result of the workforce reduction, Sprint hopes to save $1.2 billion on an annualized basis. But before saving, the carrier will have to pay severance and other related costs of around $300 million.
Verizon and T-Mobile, the other two US giant operators, have not announced, until now, major workforce reductions. However, given the current economic situation, the two companies will probably have to cut some jobs too.