T-Mobile Announces , Massive US Layoffs .
T-Mobile Announces , Massive US Layoffs .
On August 24, T-Mobile announced plans to
cut 5,000 jobs in the United States, reducing
the company's workforce by about 7%.
On August 24, T-Mobile announced plans to
cut 5,000 jobs in the United States, reducing
the company's workforce by about 7%.
NBC reports that the news comes as
the wireless carrier struggles with
rising costs and a competitive market. .
NBC reports that the news comes as
the wireless carrier struggles with
rising costs and a competitive market. .
Over the last three quarters, T-Mobile has
been amassing subscribers looking to purchase
cheaper plans through discounted bundles. .
However, NBC reports that offering
these discounted subscriptions has
taken a toll on the carrier's profits.
What it takes to attract and
retain customers is materially
more expensive than it was
just a few quarters ago, Mike Sievert, T-Mobile CEO, via letter to employees.
What it takes to attract and
retain customers is materially
more expensive than it was
just a few quarters ago, Mike Sievert, T-Mobile CEO, via letter to employees.
T-Mobile CEO Mike Sievert said that the
layoffs targeting corporate and back-office
roles will take place over the next five weeks. .
T-Mobile CEO Mike Sievert said that the
layoffs targeting corporate and back-office
roles will take place over the next five weeks. .
According to Sievert, the layoffs will not
impact the carrier's retail and consumer care
divisions, but will extend to some technology jobs.
According to Sievert, the layoffs will not
impact the carrier's retail and consumer care
divisions, but will extend to some technology jobs.
NBC reports that the wireless carrier
expects to face a third quarter pretax
charge of approximately $450 million.
NBC reports that the wireless carrier
expects to face a third quarter pretax
charge of approximately $450 million.
Sievert said the company will look
to improve efficiency and cut costs by
implementing more centralized models.
Sievert said the company will look
to improve efficiency and cut costs by
implementing more centralized models.
In July, T-Mobile said it expected to
see wireless subscriber net additions
somewhere between 5.6 and 5.9 million. .
In July, T-Mobile said it expected to
see wireless subscriber net additions
somewhere between 5.6 and 5.9 million.