Update 4: Sprint to Cut 700 Jobs, Expects Charge
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Sprint Corp., the telecommunications giant, said Friday it will cut 700 jobs in its business solutions division as it stops selling business long distance services outside of package deals.
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Overland Park, 15.10.04 - Sprint Corporation announced it will record in its third quarter financial results a pre-tax non-cash impairment charge reducing the value of its long-distance network assets.
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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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Sprint is attempting to rid itself of customers who frequent its customer service lines by informing them that it would cancel their service effective July 30.
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The announcement comes after Sprint last week reported deeper-than-expected customer losses for the fourth quarter and said it would cut about 4,000 jobs in a bid to reduce costs.
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Timken Co. TKR.N on Friday said it   would cut about 700 jobs, or 5 percent, of its automotive group   employment, and significantly lowered its earnings outlook. It   cited a fall in North American auto industry production,   sending shares down more than 10 percent.
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Motorola Inc. , the world&#39;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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As part of its effort to turn its fortunes around, wireless phone company Sprint Nextel announced today that it would "streamline its business" by cutting 4,000 jobs and closing 8 percent of its stores. The company, third among U.S. mobile phone services, has been battling against a continual loss of subscribers.
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By DAVID TWIDDY    KANSAS CITY, Mo.  -- Sprint Corp...
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With a view to focusing on its wireless business, Motorola Inc. said it plans to slash 1,000 jobs, or 1 percent of its staff, and absorb charges of about $50 million.
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CHICAGO, Jan. 29  â The Sara Lee Corporation said on Monday that it planned to cut nearly 1,700 jobs, or about 3 percent of its work force, in its latest effort to reduce costs.
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Nokia, the world's leading maker of mobile phones, has said it would shed some 700 jobs, with Finland taking the brunt of the cuts.
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No. 3 U.S. mobile service provider  Sprint Nextel Corp  is expected to offer flat-rate calling  plans at up to a 40 percent discount to its rivals, hurtling  the industry into a price war, analysts said on Wednesday.
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Wireless phone company Sprint Nextel Corp. said Friday it plans to slash 4,000 jobs and close 125 retail locations to gird itself for an expected slowdown in subscriber growth and revenue.
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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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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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Telecommunications company Sprint Corp. on Friday said it will record an unspecified third-quarter impairment charge that will reduce the value of its long-distance network assets, and will realign its sales efforts in a plan that will cut up to 700 jobs in its Sprint Business Solutions division.