Sprint has decided to cut some of its workforce in an attempt to decrease its expenses while its ranking among the U.S. wireless carriers dropped to fourth place, putting it behind T-Mobile.
According to USA Today, Sprint CEO Marcelo Claure announced that the wireless carrier has decided to take drastic measures to cut costs, and by drastic he meant laying off some of its manpower.
The Sprint CEO did not really give a specific amount the company plans to spare, and he did not also reveal the percentage or the number of employees from its 31,000 workforce who will be affected by this decision.
The Overland Park-Kansas-based company just noted that the expenses it plans on cutting is between $2 billion and $2.5 billion, and it plans to do so in the next six months.
"We have begun an effort to significantly take costs out of the business so the transformation of the company will be sustainable for the long term," a spokesperson told CNET.
The Sprint spokesperson added, "It is likely that some jobs will be impacted but it's premature to discuss the details as we are in the early stages of the process."
The announcement comes after Wall Street Journal ran a story about the company's plan to cut costs after an employee memo revealed Sprint's plans which also includes freezing its hiring arm in the duration of this cost-cutting period.
According to Steelers Lounge, Sprint has been under pressure to do this cost-cutting measure because of certain concerns involving overspending too much just to acquire more clients and retain their customers.
"We believe the steps we are taking across our business are critical to ensuring Sprint is a viable, successful and sustainable business for the foreseeable future," the company said in the memo.
Sprint just lost its spot at the top wireless carriers in the U.S. to T-Mobile, which now has 58.9 million customers.
