Sprint lays off 4,000 amid restructuring

As our sister publication FierceWireless reported earlier this week, job cuts are coming over at Sprint. As the first stage in his corporate restructuring, new CEO Dan Hesse announced 4,000 job cuts today and plans to close 125 Sprint retail locations. According to Sprint, these moves are aimed to help the company save as much as $800 million by the end of the year. The cuts come amid news of heavy subscriber loss at Sprint--the company reports losing some 683,000 subscribers and 202,000 pre-paid users last year. In a statement, the company maps out "continued downward pressure on subscriber trends, revenues, and profitability in 2008."

For more on the layoffs:
- see this FierceWireless article