Wireless provider, Sprint Nextel Corp., said today that it will reduce payrolls by about 8,000 before April in order to cut annual costs by $1.2 billion. Layoffs are expected to be firmwide ? impacting employees at all levels and in many regions globally. The company is attempting to remain competitive with rival providers, including AT&T and Verizon, and will also suspend its 401(k) matching program, continue wage freezes, and halt tuition reimbursement. Sprint expects a portion of layoffs to fall under its voluntary severance plan.
See "Sprint job cuts to total 8,000", Julianne Pepitone, CNN Money, January 25, 2009