Sprint Nextel Cuts 4,000 Jobs, Closes 125 Stores
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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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Colgate-Palmolive, the consumer products company, said yesterday that it would close about a third of its factories and cut more than 4,400 jobs over the next four years as part
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Cell phone maker Motorola Inc. said Wednesday it will cut another 4,000 jobs as part of a plan aimed at improving sagging financial and operational results.
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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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December 16, 2004 -- Sprint Corp. agreed to buy Nextel Communications Inc. for about $35 billion in a transaction that would leave three companies in control of 70 percent of the US mobile-telephone market.
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After a big drop in subscribers and planned layoffs, Sprint Nextel's top financial, marketing, and sales executives are leaving the company.
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Sprint Nextel Corp , the third largest U.S. mobile service, said on Thursday Chief Financial Officer Paul Saleh and two other top executives would leave the company in a new management shake-up.
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AT&amp;T Corp. said it will cut one-fifth of its work force this year -- or 7,400 more jobs -- and write down $11.4 billion of assets as the phone company retreats from the residential business it once dominated.
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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 Corp., the nation's third-largest wireless provider, said Thursday it will have to write off a significant chunk of the remaining value of its 2005 purchase of Nextel Communications Inc. and several affiliates, reflecting the continued struggles of its wireless operations.
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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 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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The phone company reported a fourth-quarter loss of $11.1 million as it scaled back on marketing and cut other costs.
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Sprint Nextel reported deeper-than-expected subscriber losses 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 Sprint Nextel CEO Dan Hesse has lots of choices as he&#160;takes over the ailing mobile carrier&#160;and looks for problems to start solving.Sprint, the third-biggest wireless operator in the U.S., is&#160;losing subscribers as it keeps working through the merger of Sprint and Nextel, which occurred in 2005. On Tuesday,&#160;Sprint announced Hesse is taking over immediately for Gary Forsee, who was forced out by the company&#39;s board in October. Hesse, 54, previously led Embarq, the local wireless carrier Sprint spun off as part of the Nextel deal.Sprint needs to both distinguish itself from competitors and get its own house in order, according to mobile industry analysts.&quot;They couldn&#39;t go on without someone who&#39;s willing to set a direction,&quot; said Avi Greengart of Current Analysis. Sprint could try to compete with Verizon Wireless and AT&amp;T Wireless on price, or with more flexible terms of service, or bring out more innovative devices, but it&#39;s failed so far to choose, according to Greengart.&quot;Their brand right now doesn&#39;t stand for anything,&quot; he said.One thing the Sprint name has been associated with recently is disappointing customer service. Reporting on the quarter ended Sept. 30, the company blamed accelerating customer &quot;churn&quot; to other carriers in part on longer help calls and waits for those calls. The introduction of simplified bills, expected to continue until the middle of 2008, boosted the number of those calls, the company said in a filing with the U.S. Securities and Exchange Commission. Sprint also noted new handsets at rival carriers, clearly a reference to AT&amp;T&#39;s Apple iPhone.Meanwhile, thanks to about 700,000 subscribers quitting the aging Nextel network, Sprint&#39;s subscriber base as a whole declined by a net 337,000 in the quarter. The carrier said it had about 54 million subscribers on Sept. 30.What could most set Sprint apart is also its biggest gamble, the WiMax wireless broadband network it plans to build across the U.S. at an estimated cost of US$5 billion. Though the WiMax network is likely to be in place first, set to reach 100 million people by the end of 2008, Sprint&#39;s main rivals plan to have their own high-speed data offerings using a similar technology, LTE (Long-Term Evolution). And WiMax won&#39;t fix Sprint&#39;s long-overdue need to harmonize its cellular operations, currently split between CDMA (Code Division Multiple Access) and Nextel&#39;s older iDEN technology, Greengart said.If it goes ahead with WiMax -- interim CEO Paul Saleh said this month the business might be spun off -- Sprint will have to convince skeptical investors it&#39;s making the right move, said Yankee Group&#39;s Phil Marshall. It will also need to find a way for WiMax to truly complement the cellular business, Marshall said. So far, Sprint has painted WiMax as a mobile service distinguished from its conventional voice offerings by the promise of an any-application, any-device model. A better plan would be to push WiMax as an alternative to wired broadband that&#39;s bundled with Sprint&#39;s cellular service, Marshall said.However, in the short term, Hesse just needs to get the company to run its existing businesses better, Marshall said. Cleaning up customer service would be one key move, he added. Judging from Hesse&#39;s previous performance -- he once headed AT&amp;T Wireless -- the new CEO is qualified to do this, according to Marshall.&quot;He&#39;s very pragmatic and systematic in his management style,&quot; Marshall said.&#160;
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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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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.