Sprint Cutting 2500 Jobs

According to a recent article on IntoMobile it seems that Sprint (the U.S. carrier) will soon be slashing around 2,000 to 2,500 jobs by the end of the year.

The main reason behind this is said to be due to the extremely unimpressive Q3 results, during this period Sprint reported a loss of $478 million, this loss surprised many as during this period Sprint began offering more advanced smartphones.

It is thought that Sprint have been investing a lot into their WiMAX network, however they are said to be struggling to get the network deployed.

It is thought that 2,000 to 2,500 job cuts will save the company 350 million a year in expenses, however it is thought that the job cuts will cost them around $70 million in severance pay this quarter.