Sprint Released New Corporate Structure: Employers To Face Big Recession

Some time ago, Sprint announced that they have been renovating the corporate structure and would likely to layoff some of their employees. According to the report filed with the Kanas Department of Commerce, certainly, the company has laid off 452 workers from their Overland Park headquarters in order to cut the costs.

Though, the report only includes the first batch of the layoffs, which the Sprint has planned by the end of this month. The report lacks any further jobs that might cut outside the campus of the headquarters, however, most of them are likely to follow.

Sprint, America’s 3^rd biggest cell phone provider company has laid off employees to keep up with the adverse growth of the top two companies; AT&T and Verizon correspondingly. Moreover, Sprint also admitted the fact that they will have to take a $160 million credit in their 2^nd fiscal quarter to cover the cost of these layoffs including hourly managers and the base employees. No doubt, this will eventually cost more in the coming future, if they want to cut even more jobs.

“We foresee additional reduction activity in the next few weeks and will provide an updated list of impacted positions” Kansas Department of Commerce report stated.

As per the official reports, Sprint had already been laid off around 500 employees earlier this year that now brings the total number of employees affected by this to 929.

In the Kanas City region, Sprint had about 7500 employees before the announcement of the layoffs that makes up more than 20% of the company’s total work force of roughly 33,000. And that 33,000 is down from 36,000 in March which is down from 38,000 from the end of last year. Visibly, the company is shrinking; and at this pace it may not be long before they are gone for good.