Sprint to slash 4,000 jobs after subscriber losses
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Sprint Nextel  reported  deeper-than-expected subscriber losses on Friday and said it  would cut about 4,000 jobs, sending its shares down 19 percent  to their lowest level in more than five years.
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Motorola Inc.  said it expects to cut an  additional 4,000 jobs as it continues to lower costs.
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Motorola Inc. said Wednesday it would lay off 4,000 more workers as the Illinois-based company works to improve its financials.
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AT&amp;T Corp. (TN: Quote, Profile, Research) will cut another 7,400 jobs and reduce the value of its assets by $11.4 billion, spurred by its retreat from traditional consumer
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AT&amp;T Corp. is cutting 7,400 more jobs and slashing the book value of its assets by $11.4 billion, drastic moves prompted by the company&#39;s plan to retreat from the traditional consumer telephone business following a lost court battle.
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Tough times continue at Sprint Nextel, as the company said Thursday that three of its top executives are on their way out.CFO Paul Saleh, Chief Marketing Officer (CMO) Tim Kelly, and President of Sales and Distribution Mark Angelino will leave the company on Friday, according to Sprint Nextel. It wasn&#39;t clear if the executives were leaving voluntarily or were being let go, and company spokeswoman Leigh Horner said in an e-mail that Sprint Nextel isn&#39;t &quot;commenting further or characterizing the nature of these departures.&quot;In a press statement, Sprint Nextel President and CEO Dan Hesse thanked the three for their &quot;dedication and contributions&quot; to the company, and wished them luck in future endeavors.Sprint Nextel is looking to replace the departing executives permanently, but in the meantime their duties are being handled by existing executives.William G. Arendt, currently senior vice president and controller of Sprint Nextel, will serve as acting CFO, while John Garcia, currently senior vice president, product development and management, will serve as acting CMO. Paget Alves, currently Sprint Nextel&#39;s regional president for sales and distribution, will serve as acting president, sales and distribution. All of these executives will report directly to Hesse.The news of the executive shake-up follows the announcement last week that&#160;Sprint would be laying off 4,000 employees and the close 125 of its 1,400 retail outlets&#160;due to the net loss of more than 100,000 customers in the fourth quarter of 2007. At the end of the year, Sprint said it had 53.8 million subscribers, including 40.8 million customers of its traditional post-paid service.The company plans to announce its full fourth-quarter results on Feb. 28.While Sprint struggles, rival carrier&#160;AT&amp;T seems to be doing better, thanks to its partnership as the&#160;exclusive service provider for Apple&#39;s iPhone&#160;device. AT&amp;T&#39;s revenue was up 2.9 percent in the fourth quarter of 2007, largely driven by increases in mobile phone and broadband customers, the company announced Thursday.AT&amp;T saw a net gain of 2.7 million mobile subscribers during the quarter, and most of them came to the company through its iPhone partnership, the company said. Apple said Tuesday it sold 2.3 million iPhones during the quarter.
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Motorola is to shed an extra 4,000 jobs this year, as it continues efforts to reverse a fall in profits.
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Sprint Nextel , the No. 3 U.S. mobile service, said on Friday it will cut about 4,000 jobs and close about 8 percent of its stores, predicting further pressure on its ability to attract subscribers and turn a profit in 2008.
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RAZR phones fail to slice into new markets Motorola has announced another round of layoffs - 4,000 to add to the 3,500 jobs it slashed in January.â¦
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Alcatel-Lucent  on Friday said it would cut about 12,500 jobs over three years, more than previously announced, as it reported a fourth-quarter net loss and forecast a drop in first-quarter revenues.
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Shares of Sprint dropped 25 percent after the company said that it planned to lay off 4,000 workers and close stores to trim costs as its customer base shrinks.
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Sprint Corp., the telecommunications giant, said yesterday it will cut 700 jobs in its business solutions division as it stops selling business long distance services outside of package deals. The cuts represent 7.8 percent of the division's workforce.
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SBC Communications Inc. expects to eliminate about 13,000 jobs after its $16 billion acquisition of AT&amp;T Corp. closes, but the phone company said yesterday that many positions can be cut through attrition.
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NEW YORK, October 15  - The US-based telecom giant, Sprint Corporation (FON.NYS), has announced its plans for additional 700 job cuts in its Sprint Business Solutions (SBS) division.
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SBC Communications says it may cut about 10,000 jobs by the end of next year, which would equal, 6% of its workforce. The cuts are a result of customers switching from regular phone lines to cellular and voice-over internet services.
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Motorola Inc. , the world's second-biggest mobile phone maker, said it expects to cut an additional 4,000 jobs, bringing the total to 7,500 this year, as it works to reduce costs to return to profit.
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Sprint Nextel will lay off about 4,000 employees and close about 125 retail outlets after it suffered a net loss of more than 100,000 customers in the fourth quarter of 2007, the company said Friday.The layoffs and other cost-cutting measures are expected to save the company $700 million to $800 million a year, the company said in a news release.The company reported a net gain of 500,000 subscribers through wholesale channels, growth of 256,000 Boost Unlimited users and net additions of 20,000 subscribers within affiliate channels. These gains were offset by net losses of 683,000 post-paid subscribers and 202,000 traditional prepaid users.At the end of the year, Sprint had 53.8 million subscribers, including 40.8 million customers of its traditional post-paid service.In addition to the layoffs, to come in the first half of the year, Sprint plans to close about 8 percent of its company-owned retail locations and eliminate more than 4,000 third-party distribution outlets, the company said. Sprint now has 20,000 total distribution points, including nearly 1,400 company-owned retail locations.Sprint will announce its full fourth-quarter results on Feb. 28.