By now you are probably aware that Sprint is planning on laying off a number of workers in the next month or two in its bid to return to profitability for the first time in 11 years. While Sprint’s parent company, SoftBank, will continue to invest in the struggling US carrier, Sprint has been told to find ways to save on its expenditure, to the tune of $2 billion.
Part of the cost cutting includes workers having to take out their own trash and executives foregoing the use of private cars on call and using Uber instead. In a telephone interview with Re/code, Sprint CEO Marcelo Claure has urged Sprint employees to take ownership with regards to costs, with the company’s finance department being responsible for reviewing and approving all expenditures.
As previously mentioned, all this cost cutting inevitably means there will be layoffs in the imminent future with the Wall Street Journal envisaging thousands of job cuts. The job cuts are expected to be announced before January 30, 2016, after which severance payments will be halved, another cost-cutting exercise.
Source: Softbank (PDF)
Via: Re/code
Come comment on this article: Sprint to announce layoffs by Jan 30 in bid save $2 billion in costs
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