This guy’s got some big changes to effect if he wants to have any chance at righting the wayward ship that is Sprint. We’re talking about Sprint’s new CEO, Dan Hesse, of course.
You expect a certain amount of corporate change-up with the changing of the guard, but this is definitely more than we expected. A report from The Wall Street Journal indicates that the new CEO is expected to cut thousands of jobs in the name of promoting efficiency and increased cost-savings.
The announcement of Sprint’s layoff-move follows reports that Sprint just lost 500,000 subscribers in Q4 2007. Sprint’s Q3 operating revenues were pegged at $10 billion, down from $10.5 a year ago – net income was $64 million in the same quarter, compared to $279 million a year ago.
Poor, Sprint. We sure hope their WiMAX XOHM network helps pull them out of the rut that they’re in.
[Via: WSJ]