US wireless telecom Sprint Nextel to cut 4,000 jobs
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US wireless telecommunications firm Sprint Nextel announced it was cutting 4,000 jobs Friday, saying it anticipated "downward pressure" on its profits in the coming year.
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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 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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Cingular Wireless, the nation's largest cellular phone company, plans to cut about 10 percent of its work force as a result of its purchase of AT&T Wireless.
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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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Chicago - Motorola will cut 1 000 jobs and take a charge of $50 million (R320.5 million) for severance benefits as it moves to complete a spinoff of its money-losing semiconductor unit, the company said.
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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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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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In response to an increasingly difficult retail environment, Sprint Nextel says about 4,000 employees will be laid off and about one out of every eight retail stores will close.
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Sprint Corp. FON.N on Friday said it  plans to cut up to 700 jobs as it realigns its business to  focus on wireless and Internet services and takes a non-cash  network impairment charge.
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NEW YORK - Sprint Corp. is buying Nextel Communications Inc. in a $35-billion US deal that will create the third-largest wireless phone company in the US.
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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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Motorola Inc., the world&#39;s second-largest maker of mobile phones, will cut 1,000 jobs as the company prepares to spin off its computer-chip business, costing $50 million in severance payments.
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SBC Communications, one of the biggest US phone companies, is planning 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 Corp  reported  deeper than expected subscriber losses on Friday and said it  would cut about 4,000 jobs, sending its shares down 26 percent  and raising fears that an economic slowdown would take a  greater toll on the wireless industry .
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AT&amp;T Corp. said it will cut 7,400 more jobs this year and write down $11.4 billion of assets as the phone company retreats from the residential business it once dominated.
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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.