Verizon, Sprint cut fee
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NEW YORK -- The nation's second- and third-largest cellphone carriers are lowering controversial surcharges on customer bills that have brought them over $250 million this year.
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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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Shares of Sprint and Nextel jumped Thursday following reports the two telecommunications companies are discussing a merger. Sprint stock gained a $1.80 a share to close at $24.30 on the New York Stock Exchange.
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Verizon and Sprint wireless customers will get a small break on their bills soon. The companies have decided to eliminate or reduce a 40-cent-per-line monthly charge imposed to allow customers to transfer their phone numbers to new carriers.
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Vodafone is to cut costs by Â£2.5bn per year by March 2008. It will do this a combination of Â£1.4bn through cost-saving measures and Â£1.
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AT&T Corp. T.N  and Internet  telephone provider Vonage on Thursday said they were cutting  prices for their residential Internet calling services by $5  per month, the strongest signs yet of a price war in the  nascent market.
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AT&amp;T (T) and Internet telephone provider Vonage said Thursday they are cutting prices for their residential Internet calling services by $5 a month, the strongest signs yet of a price war in the nascent market.
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Sprint Corp.'s &#36;35 billion acquisition of Nextel Communications Inc. could challenge Cingular Wireless and Verizon Wireless for supremacy in a ruthlessly competitive business where prices are constantly dropping.
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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.
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Cellular service competitors followed Verizon with unlimited monthly voice plans for $99.
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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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Verizon Communications Inc. said Wednesday that it was dropping a "supplier surcharge" on its high-speed Internet service for retail customers.
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Bowing to pressure from both the Federal Communications Commission and irate customers, Verizon says it has decided not to impose a new fee on DSL subscribers that would have negated any savings from DSL being exempted from the Universal Service Fund.
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Verizon Communications Inc.   said on Wednesday it had dropped a surcharge for high-speed  Internet service after U.S. regulators questioned whether the  No. 2 U.S. telephone carrier was following truthful billing  practices.
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Sprint Corp. is close to an agreement to buy Nextel Communications Inc. for about $35 billion in a mostly stock deal that would combine the No.
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Between them, the three carriers have cut back the value of their long distance networks by $18.4 billion (AT&amp;T&#39;s writedown was $11.
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KANSAS CITY, Mo. - Verizon Communication Inc.&#39;s wireless partner on Tuesday distanced itself from discussions on a potential bid for Sprint Corp.