26 Jan 09 Sprint Lays Off 8,000 People
In case you thought you are still working for Sprint, we have some potentially bad news for you. You might be one of those 8,000 people the company is laying off. That will save Sprint about $1.2 billion and you will have to go get a new job. The details of the lay off hasn’t been made public but the move will affect all levels of the company and various geographic locations. If you work for Sprint and did not get fired, you should expect pay increases and 401(k) contributions to be affected to.
Sprint has already suspended the annual salary increase and it will also suspend the 401(k) for 2009. The tuition reimbursement program will be frozen this year too, so don’t expect a great Sprint year! Sprint will finalize redundancies by March 31st and it’s estimated that $300 million will be covering the redundancy pay-outs.
On the other hand Sprint is bringing out the Pre, which should get them lots and lots of money if it’s going to be done right. We’ll tell you more about it in due time.
via Press
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