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From: peppe51	1/26/2009 8:27:30 AM
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8000....Sprint Nextel to cut up to 8,000 jobs Monday January 26, 8:23 am ET NEW YORK (Reuters) - Sprint Nextel Corp (NYSE:S - News), the No. 3 U.S. mobile service provider, said it would eliminate up to 8,000 jobs, or about 14 percent of its workforce, under a plan to cut labor costs. Sprint's plan, which it hopes will shrink costs by about $1.2 billion a year, comes about one month after rival AT&T Inc (NYSE:T - News) said it would eliminate 12,000 jobs, or about 4 percent of its staff. Sprint will take a charge of more than $300 million in the first quarter for severance and related costs associated with the reduction. In addition, Sprint said it would suspend paying 401(k) retirement matching funds. biz.yahoo.com

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