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Another 2,500 Job Losses coming from Sprint Nextel

Sprint Nextel has announced they are chopping another 2,500 jobs which is 6% of their workforce, this quarter in a bid to reduce annual expenses by a minimum of $350 million reports an article on the New York Times.

Sprint has also stated they will along with the job cuts; reduce their use of outside contractors which make up 60% of projected savings.

The mobile phone company has roughly 42,000 workers and predicts a charge of $60 to $80 million in Q4 for severance payments along with other costs that relate to their latest round of layoffs, and have said many of these cuts would be introduced by December’s end and include job losses across the entire company including wholesale.