Getting your player ready...
KANSAS CITY, Mo. — Faced with persistent subscriber losses and questions about long- term prospects, Sprint Nextel is slashing its workforce by 8,000 people as it seeks to cut annual costs by $1.2 billion.
The layoffs announced Monday are the latest attempt by the nation’s third-largest cellphone carrier to right its financial ship.
They come slightly more than a year after the company cut 4,000 jobs and closed 125 retail centers as chief executive Dan Hesse aimed to show he was serious about streamlining operations.
Sprint said it expects the latest round of layoffs, a 14 percent reduction of its 56,000 employees, will be largely completed by March 31.
Sprint shares rose 3 cents, 1.2 percent, to close at $2.49 Monday.
