Sprint Nextel announced this morning that it will be cutting 8, 000 jobs in a bid to save $1.2 billion this year. Most of the job cuts will be completed by March 31, and will run across all divisions and geographic locations.
The telecom company has worked very hard over the past year to improve its customer service level. In order to maintain this, customer service sectors will face less layoffs than closed-door divisions. The layoffs include roughly 850 jobs that will be eliminated under a voluntary separation plan Sprint enacted last year.
“Labor reductions are always the most difficult action to take, but many companies are finding it necessary in this environment,” said Sprint chief executive Dan Hesse in a press release.
Sprint will maintain its freeze on wages, in addition to eliminating 401k matching and tuition rebates for 2009.
The company will announce its 2008 fourth quarter earnings February 19.
via sprint
