Sprint Corp (S.N) announced on Monday it will fire 2,000 employees and it cut its 2014 
adjusted earnings forecast as the company attempts to reduce costs and turn around several quarters of losses.
The layoffs are expected to lower labor costs by $400 million a year and are the latest job cuts by the third largest U.S. carrier.
The company reduced its forecasts for 2014 adjusted earnings to between $5.8 billion and $5.9 billion from $6.7 billion to $6.9 billion.
“My job as CEO is to make sure that all costs reflect the value that we are going to provide to the market. I said on day one to all my employees that we were going to take costs out and there will be layoffs,” Marcelo Claure told Reuters in an interview.
More job cuts are not expected, although the company is always looking for ways to cut costs, he added.
Chosen excerpts by Job Market Monitor. Read the whole story at Sprint cuts 2000 jobs, more leadership changes to come | Reuters.
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