Feeds

Sprint axes 4,000 jobs, closes 125 stores

Workers tumble through gaping subscriptions hole

High performance access to file storage

US mobile phone provider Sprint Nextel said today it will slash around 4,000 jobs and close about eight per cent of its stores, in an attempt to claw back costs in the face of a haemorrhaging customer base.

The firm admitted in a statement that it has been hit by an inability to attract new subscribers to its service.

Sprint - which recorded a total subscriber base of 53.8 million at the end of 2007 - said in a statement that 125 stores and some 4,000 retail outlets throughout the US would be closed, in a cost-cutting exercise that could save the struggling firm $700 to $800m by the end of the year.

Sprint said 683,000 post-paid subscribers and 202,000 prepaid subscribers had done a runner in the last quarter (Q4) alone.

According to Reuters, the firm has been squeezed by bigger rivals such as AT&T. It has also been hindered by customer service and network problems, as well as feeling the pinch from the credit crunch crisis.

The company said that it picked up 500,000 new subscribers through its wholesale channels in the last quarter, and recorded growth of 256,000 Boost Unlimited users and net additions of 20,000 subscribers in its affiliate channels.

Shares in Sprint have plummeted more than 25 per cent on Wall Street. The wireless telecom firm is due to deliver its Q4 results on 28 February. ®

SANS - Survey on application security programs

More from The Register

next story
A black box for your SUITCASE: Now your lost luggage can phone home – quite literally
Breakfast in London, lunch in NYC, and your clothes in Peru
Broadband Secretary of SHEEP sensationally quits Cabinet
Maria Miller finally resigns over expenses row
EE dismisses DATA-BURNING glitch with Orange Mail app
Bug quietly slurps PAYG credit - yet EE denies it exists
Like Google, Comcast might roll its own mobile voice network
Says anything's possible if regulators approve merger with Time Warner
Turnbull leaves Australia's broadband blackspots in the dark
New Statement of Expectations to NBN Co offers get-out clauses for blackspot builds
Facebook claims 100 MEEELLION active users in India
Who needs China when you've got the next billion in your sights?
Facebook splats in-app chat, whacks brats into crack yakety-yak app
Jibber-jabbering addicts turfed out just as Zuck warned
prev story

Whitepapers

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.