Less than a week after reporting third-quarter losses of $326 million, Sprint Nextel Corp. (S) is trying to trim the payroll by offering voluntary buyouts.
Sprint didn’t say how many of its 57,000 workers would get the offers; however, the carrier told the Kansas City Star the number included some of the 12,000 people headquartered in Overland Park, Kan.
The news comes as Sprint continues to bleed money and wireless subscribers. The company is pinning many of its hopes on the new Clearwire Corp. (CLWR) merger, but the benefits of that deal, if any, won’t be clear for some time. So, in the interim, it looks like getting people to cash out and move on is the best way to reduce headcount and limit legal action.
Sprint isn’t the only tech company going the voluntary buyout route this fall.
Chipmaker Micron Technology Inc. recently enticed workers to leave with severance packages. Approximately 1,500 people in the company’s hometown – Boise, Idaho – took the offer. Computer manufacturer Dell Technology announced yesterday it too will proffer voluntary buyouts. And Nokia Siemens Networks achieved some of its recent layoffs with voluntary buyouts as well.
