FRAMINGHAM (11/24/2003) - Two months after announcing efforts to find cost savings throughout its operation, Sprint Corp. Monday said that about 2,000 workers will be laid off during the quarter, including some in technology services.
In its announcement, the company said the cuts are the result of departmental reorganizations and cost-reduction measures needed to improve its bottom line.
Affected workers will include employees in the business and consumer wired and wireless groups, local telephone operations and corporate staff support groups.
The layoffs are in addition to previously announced outsourcing efforts initiated in Sprint's IT departments, the company said.
In September, Sprint announced a goal of reducing total operating expenses by 5 percent to 7 percent over the next three years. That would result in annual savings of more than US$1 billion through consolidating systems, eliminating redundancies and other corporate streamlining.
The company's new organizational structure will go into effect Jan. 1.
Laid off workers will be eligible for two weeks' pay and benefits for each full year of service up to a maximum of 52 weeks, with a minimum of 60 days' pay following their layoff notice.
They will also be eligible for help finding new jobs, according to the company.