Guaner
01-22-2008, 02:13 PM
Sprint Nextel Corp.said Friday that it will eliminate about 4,000 jobs, eliminate more than 4,000 third-party distribution points, and close about 125, or 8 percent, of its company-owned retail locations.
In a filing with the U.S. Securities and Exchange Commission, the company said it expects to take an accounting charge of about $200 million for severance and related costs associated with the layoffs. Sprint Nextel said it expects to complete the job cuts in the first half of the year, with final reductions complete by the end of June. The cuts will include management and nonmanagement positions throughout the company.
The layoffs are expected to cut across most departments, including sales, marketing, product and development, network, information technology, finance, human resources, legal and communications. But service and repair, as well as customer management, will be unaffected. Sprint Nextel is the second-largest telecommunications service provider in Louisville, according to Business First's list of the largest providers ranked by the number of local full-time employees. The list, which was published Nov. 2, puts the company's local employment at 352.
Sprint Nextel operates three local retail stores, at 1449 Bardstown Road and 4441 Dixie Highway in Louisville, and at 650 E. Lewis & Clark Parkway in Clarksville. The company also operates mall kiosks and several third-party distribution locations throughout the area. It is not known how many, if any, of the cuts will affect the Louisville operations. Company officials could not be reached for comment.
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Article source (http://www.bizjournals.com/louisville/stories/2008/01/21/daily4.html)
In a filing with the U.S. Securities and Exchange Commission, the company said it expects to take an accounting charge of about $200 million for severance and related costs associated with the layoffs. Sprint Nextel said it expects to complete the job cuts in the first half of the year, with final reductions complete by the end of June. The cuts will include management and nonmanagement positions throughout the company.
The layoffs are expected to cut across most departments, including sales, marketing, product and development, network, information technology, finance, human resources, legal and communications. But service and repair, as well as customer management, will be unaffected. Sprint Nextel is the second-largest telecommunications service provider in Louisville, according to Business First's list of the largest providers ranked by the number of local full-time employees. The list, which was published Nov. 2, puts the company's local employment at 352.
Sprint Nextel operates three local retail stores, at 1449 Bardstown Road and 4441 Dixie Highway in Louisville, and at 650 E. Lewis & Clark Parkway in Clarksville. The company also operates mall kiosks and several third-party distribution locations throughout the area. It is not known how many, if any, of the cuts will affect the Louisville operations. Company officials could not be reached for comment.
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Article source (http://www.bizjournals.com/louisville/stories/2008/01/21/daily4.html)