A recent regulatory filing said the wireless carrier will take a charge of $165 million for severance and related items. The company started making plans for the layoffs last week. There's no mention of how many employees will be cut, however, as Sprint managers are still reviewing their plans.
Why Sprint (S) Is Down Today
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts