Sprint faces ‘thousands’ of job cuts and price hikes
SoftBank, Sprint’s Japanese parent company, made a ton of profit over the last three months, but not as much profit as people were expecting. That’s largely due to it having to carry Sprint on its back, since the network has gone from plucky bronze medalist to sitting in the doldrums of fourth place in America’s hotly-contested carrier wars. In order to try and reduce the amount of red printer ink that Marcelo Claure (pictured, right) has to buy, SoftBank has ordered a “sustainable run rate reduction” of more than $2 billion. In order words, the company is about to have to learn how to do a lot more with a heck of a lot less cash.
Via: WSJ
Source: SoftBank (.PDF)
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