Sprint Nextel, the third-largest wireless carrier in the United States, plans to lay off about
5, 000 employees in the coming months, The Washington Post reported Tuesday.
The company suffered a net loss of about 300,000 wireless subscribers in the last quarter of 2006, said company officials on Monday. They projected lower sales for 2007 than analysts has anticipated.
Most of the planned layoffs will be completed by early April, they said, and will be spread throughout the company, whose total employees are about 64,600.
Sprint and Nextel Communications merged in 2005 with the hope that the two wireless companies would become a vibrant force offering attractive new products and services. But the firm has struggled to manage its networks, and customers have increasingly turned to such rivals as Cingular and Verizon Wireless.
The company also said it plans to eliminate 300 retail stores and kiosks as well as one million square feet of leased space by the end of the year. Last year it relinquished two million square feet of office space.
source: People's Daily Online
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