LayoffBlog.com

December 2, 2008

Sprint starts to cut expenses

Filed under: Telecom,US,Wireless — DF @ 4:19 pm
Tags: , , ,

According to BusinessWeek: “To stem its losses, Sprint is cutting expenses. The company began offering voluntary buyouts to employees in human resources, corporate communications, and finance in November. The workers have until Dec. 3 to apply for the offers, and those who get them will depart by the end of January. Sprint also has stopped buying all but essential office supplies, and has even reduced the number of printers its staffers use to cut expenses. “The cost cuts have been effective, but the EBIDTA [earnings before charges such as depreciation and taxes] is still declining,” says Arden. “There’s only so much cost they can take out of the business.””

1 Comment »

  1. This is old news; the VSP (voluntary separation) has traditionally (okay, twice this year) been offered to trim away work (these departures will not be back-filled with new-hires unless the job is so far afield it can’t be abandoned). In one entire organization, only 100 or so folks took the option; they’ll all probably go. That said, much of Network Ops already leaned up, doing more remote work and less roadwork. Retail and others have yet to catch up (“when can I have a new computer?”) so the cutback opportunities continue to be VOIP (sell PBXs, disco LEC lines), using more remote desktop support and frankly putting folks where they can reach the farthest. Once the 2009 budget is set in January we’ll know what we can afford (can Ford or GM say the same?). Meanwhile we paid down $2B in debt with cash left over –who else can say that?

    Comment by chevytexas — December 2, 2008 @ 7:27 pm | Reply


RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Blog at WordPress.com.

%d bloggers like this: