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Sprint plans up to cut up to USD 2.5 billion of costs
2015-10-02 09:36:00| Telecompaper Headlines
(Telecompaper) Sprint plans to cut USD 2 billion to USD 2.5 billion in costs in the next six months and will freeze external hiring, CFO Tarek Robbiati wrote in a staff memo seen by the Wall Street Journal. All expenditures must now be reviewed and approved by the finance department. In the memo, the CFO writes, "The main thing to consider when requesting to spend money is take an owner's mindset by treating every dollar as if it were your own." The statement comes days after the operator said it would not take part in the 600 MHz Incentive Auction next March. The company has said previously that it cut USD 1.5 billion in costs in the last 12 months. The company had USD 7.5 billion of operating expenses in the quarter to 30 June.
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Category:Telecommunications