Sprint to lay off 2,000 workers by the end of the year
Monday, November 24th 2003, 12:00 am
By: News On 6
KANSAS CITY, Mo. (AP) _ Sprint Corp. said Monday it will lay off 2,000 employees, or nearly 3 percent of its work force, by the end of the year to reduce costs.
Sprint said the job cuts will involve both its wireline and wireless divisions. It employs about 70,000 people overall, including about 20,000 in the Kansas City area, where 20 percent of the cuts will take place.
With these layoffs, the phone company will have cut more than 21,000 jobs in just over two years.
Sprint announced last month it lost $498 million in the third quarter, compared with a $519 million profit a year ago.
Sprint said the loss reflected the consolidation of its two businesses, which are traded separately on the New York Stock Exchange.