Sprint announced today that they lost approximately 885,000 customers last quarter while only gaining 500,000 in the same period. With their new President and CEO Dan R. Hesse at the helm, his plan for streamlining costs in 2008 include reducing its corporate retail by 8% (approximately 125 locations), eliminating 4,000 third-party distribution points as well as reducing internal jobs by another 4,000 employees. These cuts are forecasted to save $700-$800 million by years’ end in external and internal labor costs. This also comes after a large reduction of its employees in 2007 by its former CEO Gary Forsee.
Sprint’s full-year 2007 report is due out on February 28th along with its 4th quarter financial analysis.