Sprint Layoff Leaves Many Without Jobs
Atlanta, GA 1/15/2008 04:49 PM GMT (FINDITT)
Sprint Nextel (NYSE: S) will be laying off several employees in in response to how intense competition is getting between mobile phone businesses.
There is also talk of Sprint returning it’s headquarters to Overland Park, Kansas. Sprint moved to Reston, Virginia when they acquired Nextel.
5,000 employees were laid off from Sprint last January.
Sprint has faced several challenges since the merger due to the fact that the incompatible networks were not mixing well together. Sprint also struggles to develop the Mobile WiMax, a $5 billion project, and the CDMA2000 EV-DO wireless technology at the same time.
Nokia (NYSE: NOK) will be shutting down a plant in Bochum, Germany, resulting in the layoff of 2,300 people. Veli Sundbaeck of Nokia states, “The planned slosure of the Bochum production site is necessary to secure Nokia’s long-term competitiveness…it cannot be operated in a way that meets the requirements for global cost efficiency and for flexible capacity growth.”
Nokia is expanding in Romania and South Korea. The sales and profits have been rapidly. The company recently reported an increase in profits by 85%.
befound@finditt.com
www.finditt.com
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