Sprint to cut 8000 jobs

[lawmangrant]

Here is a link to an article on FoxBusiness.com about them laying off 8000 workers as they try to save 1.2 billon in money.

LINK: http://www.foxbusiness.com/story/mar...minate-k-jobs/

KANSAS CITY, Mo.--Sprint Nextel Corp.(S: 2.5, 0.03, 1.21%) is eliminating about 8,000 positions in the first quarter as it seeks to cut annual costs by $1.2 billion.

The nation's third-largest wireless provider said this morning it will complete the layoffs largely by March 31. About 850 of the reductions are voluntary and the company said it expected a charge of more than $300 million for severance and other costs.

The Overland Park, Kan.-based company is also suspending its 401(k) match for the year, extending a freeze on salary increases and is suspending a tuition reimbursement program.