Layoffs, store closures hit Sprint after more losses
Tough times at Sprint. Sure, they announced a big WiMAX deal last week but they’re still seeing subscribers jump ship with more than one million leaving in just the first quarter alone.
Sprint’s net loss has grown to roughly $505 million and CEO Dan Hesse has decided to layoff 4,000 people and will be closing outlets as well as discounting wireless plans to try and turn things around.
In a conference call with investors, Hesse said that selling off it’s Nextel unit would involve “significant complexities” but he did not deny that it was a possibility.
“Nothing is off the table completely…we will always periodically reevaluate all of our options.”