Sprint to cut 4,000 jobs
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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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Motorola will cut an additional 4,000 jobs as the mobile phone maker tries to cope with tough global competition.
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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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Sprint Nextel Corp , the No. 3 U.S. mobile service, plans to lay off several thousand of its 60,000 employees, the Wall Street Journal reported on Monday.
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(InfoWorld) - In an extension of a cost-cutting program it began in January, Motorola said Wednesday it would lay off 4,000 more workers. The move will help the company to save $600 million annually starting in 2008, including additional money-saving measures like prioritizing its investments, continuing discretionary-spending controls, cutting general and administrative expenses, and site rationalization. Although it trails only Nokia in sales of wireless handsets, Motorola has struggled to translate its sales into profits. The company began this restructuring program after watching its profit drop sharply, from $1.2 billion in the fourth quarter of 2005 toÂ $624 million for the fourth quarter of 2006. The results were even worse for the first quarter of 2007, as Motorola posted a loss of $366 million compared to its profit of $849 million for the same period a year ago. In a search for change,Â the company replaced its CFO in March. At that time, chief executive Ed Zander blamed the problems on dropping prices for low-end cell phones, and Motorola's decision to give up market share instead of entering a price war with competing vendors. Also on Wednesday, Motorola said it would finish making the 3,500 job cuts it had previously announced by June 30, contributing to an estimated $400 million in annual savings. The restructuring will also incur its own costs. Motorola will subtract a one-time charge of $300 million from its savings, to pay for severance packages and other costs of the workforce reductions. "Today's actions are an update to the commitment we made during our first-quarter earnings conference call -- to drive out additional costs -- and a continuation of the plan we announced in January," Motorola'sÂ CFO Tom Meredith said in a release. Meredith promised the cuts would not distract Motorola from keeping its focus on long-term plans in customer service and support, product quality and research and development. Â
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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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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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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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Cardinal Health Inc. will cut 4,200 jobs, or 7 percent of its work force, as part of a three-year restructuring plan outlined Monday by the Central Ohio health-care products and services provider.
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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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Motorola Inc.  plans to trim an additional 4,000 jobs this year, bringing the total cuts for 2007 to more than 11 percent of its work force, as the world's No. 2 mobile phone maker reduces costs to return to profitability.
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AT&amp;T Corp. announced Thursday that it is cutting at least 7,500 more jobs and slashing the 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.
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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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SBC, the second-biggest US phone company, plans to cut more than 10,000 jobs, or about 6% of its workforce, by the end of next year.
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Sprint Nextel, suffering from a steady erosion of customers, said yesterday it is cutting about 7 percent of its workforce and closing 125 retail stores. The company's stock fell sharply, losing a quarter of its value.
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Sprint Nextel has decided to consolidate its two headquarters, eliminating a relic of the merger of Sprint and Nextel Communications in 2005.After that deal closed, the new company set up its corporate headquarters in Reston, Virginia, which had been the home of Nextel, and established an operational base in Sprint&#39;s home of Overland Park, Kansas. Now it will have just one main office, in Overland Park.The move was widely anticipated as a new CEO, Dan Hesse, took over the troubled operator. Consolidating the networks and corporate cultures of Sprint and Nextel has proved harder than merging them financially, and it has weighed down a company that has enough problems already, according to industry analysts. Sprint is losing subscribers and struggling to distinguish itself as the number-three player in the U.S. behind AT&amp;T Wireless and Verizon Wireless. It is close to a limited launch of its WiMax mobile broadband network but is unlikely to reach its WiMax coverage goal by the end of this year, an executive said Wednesday at the Mobile World Congress in Barcelona.Since Hesse took the helm in December, the company&#39;s top financial, marketing and sales executives have left, and it has announced plans to lay off 4,000 employees.Consolidating management in Overland Park will cut travel costs, bring executives closer to the company&#39;s operations and make better use of Sprint&#39;s real estate assets, according to a company statement. The move will require relocation of only a small number of executives, and Sprint will continue to have &quot;a very significant employee presence in Reston,&quot; the company said. Sprint has about 4,400 employees in the Washington, D.C., region and about 13,300 in the Kansas City, Missouri, area, where Overland Park is located.Sprint traces its roots to the Brown Telephone Co., founded in Abilene, Kansas, in 1899, according to the company&#39;s Web site.
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Sprint Nextel , the No. 3 U.S. mobile service, said on Friday it would cut about 4,000 jobs within the company, close 125 stores and reduce its use of outsourced services to improve its financial performance.