Latest in Breaking news

Image credit:

Sprint announces massive layoffs, store closings amid subscriber defection

Evan Blass
January 18, 2008
Share
Tweet
Share

Sponsored Links

New Sprint Nextel CEO Dan Hesse appears to have inherited a company bleeding subscribers by the thousands, and will now officially be dropping the ax on 4,000 employees and 125 retail locations. Amid the loss of 639,000 postpaid customers in the fourth quarter, Sprint will be cutting a total of 6.7% of its work force (following the 5,000 layoffs last year) and 8% of company-owned brick-and-mortar stores, while remaining mute on other rumors that it will consolidate its headquarters in Kansas. Sprint Nextel shares are down $2.89, or nearly 25%, at the time of this writing.

[Thanks to everyone who sent this in]



All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Share
Tweet
Share

Popular on Engadget

Live PlayStation 5 photos reveal a truly giant console

Live PlayStation 5 photos reveal a truly giant console

View
Microsoft releases a final preview for Windows 10's October update

Microsoft releases a final preview for Windows 10's October update

View
Sony apologizes for botched PlayStation 5 pre-orders

Sony apologizes for botched PlayStation 5 pre-orders

View
MIT algorithm finds subtle connections between art pieces

MIT algorithm finds subtle connections between art pieces

View
The best wireless earbuds you can buy right now

The best wireless earbuds you can buy right now

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr