Sprint Nextel, the third largest mobile operator in the US by subscribers, is aiming to cut thousands of jobs in a bid to convince investors it is committed to streamlining its business, The Wall Street Journal reported this week. Sprint has around 60,000 employees, having laid off 5,000 staff last year. It is unclear the extent of the latest job cuts, but people familiar with the situation suggest it could affect a ‘few thousand’.
2007 has been a difficult year for Sprint Nextel. It has lost customers to rivals such as Verizon Wireless and AT&T, which the market perceives to be offering better handsets, higher service quality and a superior customer service. Sprint’s third-quarter financials revealed a net decline of 60,000 subscribers to 54 million, while its main rivals both recorded healthy gains.