Sprint Announces Plan to Lay Off 5,000 Employees

by Heather McLaughlin

Today Sprint announced that they are planning on laying off around 5,000 employees to reduce pressure on profits and to revive growth.

Sprint is currently the third largest wireless carrier in the United States, but they’ve lost customers to rivals Verizon and Cingular wireless. Revenues have remained flat.

Sprint is planning on investing more money in building their network capacity.

It’s expected that these job cuts will be in place by the end of Q1 2007.

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