Communications provider Sprint Wednesday said it will reduce its workforce by up to 1,100, including up to 850 Sprint Business Solutions employees and up to 250 employees in corporate functions that support SBB.
The company said the cuts will further align company resources with customer segments and help maintain a cost structure that reflects highly competitive long-distance market conditions.
Sprint also said it would make some organizational changes designed to improve efficiencies and enhance SBS's interaction with the customer.
Sprint continues to expect full-year consolidated adjusted earnings per share to be in a range of 70 cents to 75 cents per share and consolidated full-year free cash flow to be approximately $1.8 billion. Compared to previous guidance, lower contributions from the global markets division are expected to be offset by stronger performance in the PCS wireless division and steady performance in the local division. Analysts surveyed by Thomson First Call estimate Sprint's earnings for the year at 77 cents a share.