BUSINESS BRIEFING
Times Wire Reports
Sprint Nextel Corp., the third-largest U.S. mobile-phone carrier, will eliminate up to 2,500 jobs to reduce costs after losing subscribers to rivals.
The action will result in savings of at least $350 million annually, Overland Park, Kan.-based Sprint said. The cuts will bring Sprint’s total this year to at least 10,000.
The company lost more than 2 million customers in the 12 months through September as AT&T; Inc. and Verizon Wireless gained market share.
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