Sprint to Pay Even More for Latest Layoffs

**Editor’s Note: Click here for a recap of layoffs impacting some of the biggest names doing business in the indirect channel.**

The latest round of Sprint layoffs, started on Sept. 30, will cost even more than the company had forecast.

Sprint said in a Securities and Exchange Commission filing on Friday that it already took a $160 million charge for those job cuts.

But the wireless provider is taking an additional $105 million hit for the quarter ended Sept. 30 for severance and other workforce reduction costs, it said.  

“The majority of the above charges is expected to result in cash expenditures by June 30, 2015,” Sprint told investors and regulators.

Sprint is enforcing more layoffs as it seeks to “become more competitive in the marketplace.” The company expects most of the job cuts started a little more than a month ago to be complete by March 31 of next year; they will include management and non-management positions.

The news comes as Sprint just reported worse-than-expected quarterly earnings and said it will implement layoffs alongside the ones announced in September.

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