I look at this a good news for Sprint. They realize there's a problem and are trying to correct it. Cutting costs/employees is a must with the current economic conditions. Even Google (which is really an evil corporate entity that's trying to take over the world), has been secretly cutting jobs since August:
http://tech.blorge.com/Structure:%20...economic-hell/
According to the article Sprint will be keeping $4 billion in cash reserves. With that kind of change just lying around I don't think Sprint will be going anywhere anytime soon. At the current stock price a buyout may happen, but given the state of the world economy I don't think another company would be willing to take on such a large aquisition at this time.