Sprint Nextel: Lays off Thousands and Closes Retail Outlets

Sprint Nextel has just announced that the company is undergoing a major change. Reports indicate that Sprint Nextel plans to lay off 4,000 employees as well as shut down 4,000 third party retail outlets and 125 company-owned retail stores. Sprint Nextel has been performing poorly since Sprint has acquired Nextel back in 2005. This recent decision stemmed out from several customer service problems and difficulties of attracting new subscribers. Apparently, the release of Sprint Nextel's new Xohm WiMax services has also been pushed back to a latter date despite earlier assurances that everything will be as planned. Too bad. Hope this won't turn into another Nokia in Germany incident.