Sprint Begins Round Of Layoffs
Overland Park-based Sprint Corp. has begun a series of workforce reductions, according to documents the Kansas telecommunications company filed Friday with the Securities and Exchange Commission.
The filing didn’t say how many employees would be affected by the layoffs, which the company began to implement on Tuesday.
The reductions, which will affect “certain management and non-management” employees, are expected to be completed by the end of October.
Sprint said the job cuts would “improve operational efficiencies and reduce costs,” according to the filing, although Sprint will stomach roughly $160 million in severance and related costs as a result of the terminations.
In an email, Sprint spokeswoman Melinda Tiemeyer declined to release termination totals, but she said the reductions would affect employees in Sprint's network, technology and portfolio management organizations.
Sprint is examining cost structures and operations across the company "to identify additional opportunities for efficiency," Tiemeyer added.
"The decision to reduce our workforce is never an easy one, but this, in conjunction with other cost-cutting measures, is necessary to help Sprint lower our costs," she wrote.
Sprint has roughly 7,000 local employees and is owned by Tokyo-based SoftBank Corp.
Friday's filing comes after Sprint’s new CEO, Marcelo Claure, warned investors last month that the firm would shed management employees.