SPRINT NEXTELL LAYOFF: SPRINT to LAYOFF 8000 jobs

Sprint Nextel - US wireless carrier - has decided to layoff about 8000 jobs out of its total of 56000 employees. This amounts to cutting roughly 14% of its total workforce. Sprint has also suspended increments in pay and contributions to reitrement plans.

Sprint has lost lots of its customers to AT&T and Verizon. Last month AT&T, a competitor of sprint had announced 12,000 job cuts.
Source: Bloomberg