Mish's Global Economic Trend Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Crimson Ghost who wrote (5993)	5/10/2004 3:30:34 PM
From: mishedlo	Read Replies (2) of 116555

Sprint to lay off an additional 550 workers by year-end By Carolyn Pritchard SAN FRANCISCO -- Sprint said it would cut an 550 additional jobs by the end of the year in its restructuring efforts, according to a quarterly filing Friday with the Securities and Exchange Commission, bringing the total number of layoffs to 2,550. The phone company said in November that it would cut 2,000 jobs as part a series of measures to reduce costs by 5 to 7 percent over the next three years, with annual savings eventually expected to top $1 billion. As of March 31, roughly 1,750 of the layoffs had taken place, according to the filing. Sprint also said it does not expect pre-tax charges to exceed $90 million. Additional charges associated with the layoffs will be recorded in subsequent periods and will impact all of the company's divisions. Shares of Sprint ended Friday's session down 1.3 percent at $17.76.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next