NII Holdings Inc (Nextel) / To cut 1,400 jobs

NII Holdings Inc, which provides telecom services under the Nextel brand in Latin America, said it would cut more than 1,400 jobs in its market operations and over 25 percent of its workforce at its Virginia headquarters.

The company said it expected to incur employee severance costs of $25 million to $35 million, most of which would be accounted for in the fourth quarter.

NII also said it expected higher prepaid subscriber deactivations in Mexico than estimated previously as it had modified its policy for inactive prepaid users.

The company forecast a net subscriber loss of about 400,000 in Mexico for the fourth quarter ending December.

Source:

via NII to cut jobs, expects higher prepaid user losses in Mexico | Reuters.