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US wireless telecom Sprint Nextel to cut 4,000 jobs
Comments | AFP, January, 2008
WASHINGTON (AFP) — US wireless telecommunications firm Sprint Nextel announced it was cutting 4,000 jobs Friday, saying it anticipated "downward pressure" on its profits in the coming year.
The company, which is based in Reston, Virginia, said it would also close 125 company-owned retail stores in a bid to cut costs.
Sprint Nextel said it was cutting jobs and closing eight percent of its total company-owned outlets in a bid to "streamline" its business operations.
The telecoms firm said it had signed up over 500,000 new subscribers during the fourth quarter of 2007, but lost more than 600,000 existing subscribers as it battled rivals for market share.
Sprint Nextel said it had a total 54 million subscribers at the end of 2007.
© 2008 AFP
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