Sprint to slash 4,000 jobs
( dpa ) - US wireless carrier Sprint Nextel Corp plans to cut 4,000 jobs and close some 8 per cent of its stores to halt a slide in earnings and subscriber numbers, the company said Friday.
Chief Executive Officer Daniel Hesse said the measures would save the third-largest US provider 800 million dollars per year. In total 125 stores of its 1,400 stores will be closed.
The company also announced that it lost 683,000 subscribers in the fourth quarter. The company's stock price had plummetted more than 25 per cent by Friday afternoon on Wall Street.