telecom@eecs.nwu.edu (TELECOM Moderator) (07/20/90)
US Sprint announced Tuesday it plans to cut 1000 workers, or about five percent of its work force, after its parent company reported sharp losses at the number three long distance company in the United States. United Telecommunications, which owns 80.1 percent of Sprint, reported a 55 percent drop in second quarter earnings because of continued, difficult to control losses at the company. Sprint said the job cuts would begin soon, and continue through the end of the year, as part of an overall restructuring of the long distance carrier. Most locations of the company will be involved in the cutbacks, with the possible exception of the sales and marketing staff, which might be slightly increased in size. United Telecommunications had been planning to buy the 19.9 percent of Sprint it does not already own ... but a corporate spokesperson said Tuesday this was being put on hold indefinitly, due to Sprint's $42 million loss during the period April 1 through June 30, 1990. Patrick Townson