WirelessAdvisor.com

TNDan21 · 09-17-2003, 2:50 PM

Sprint Looks To Save A Billion
By Wireless Week Staff
September 17, 2003
news@2 direct

Sprint Corp.'s plan to refocus its business into two segments -- business and consumer -- will be accompanied by cost-cutting efforts that could save the company about a $1 billion a year.

Up until now, Sprint has segmented its business into wireless vs. wireline and local vs. long-distance. The first step in reorganizing the company came in the form of bundled services that included local, long-distance and wireless calling features for its consumer market base. Then Sprint rolled out a bundled package of local and long-distance services for the business sector. Wireless options are expected to be added shortly. Last week, Sprint named its PCS Division President Len Lauer president and COO of the entire company.

Sprint Chairman and CEO Gary Forsee believes the repositioning of the company's focus presents opportunity for revenue growth and cost synergies across both the FON and PCS groups. "While we have no timetable for recombining our tracking stocks, we continue to believe that a recombination of the stocks is likely at some point," he said in a statement. Raymond James analyst Ric Prentiss forecasts the recombining of the tracking stocks will happen in the next 12 to 15 months.

In total, the company expects to reduce operating expenses by 5 percent to 7 percent. To accomplish this goal, Sprint will consolidate systems to eliminate redundancies, increase automation and redesign and streamline its overall organization.

Sprint has been tackling its debt with a vengeance. During the last two quarters, the company shaved $3.5 billion in debt, which keeps Sprint on course to meet its two-year debt reduction goal of $7 billion.

In December, Sprint plans to outline for investors how its cost-cutting measures will affect its 2004 earnings forecast.

Sprint Looks To Save A Billion

1900mhzcdma · 09-17-2003, 7:57 PM

Quote:

Originally posted by: TNDan21

In total, the company expects to reduce operating expenses by 5 percent to 7 percent. To accomplish this goal, Sprint will consolidate systems to eliminate redundancies, increase automation and redesign and streamline its overall organization.

It's good that they said that as nice as possible [img]i/expressions/face-icon-small-sad.gif[/img]

jayc · 09-17-2003, 8:44 PM

*snip* *snip*

Cenobyte · 09-17-2003, 10:52 PM

Looks like Verizon will be hiring some more ex-sprint employees out here...

09-17-2003, 2:50 PM	#1 (permalink)
TNDan21 Join Date: Dec 2001 Location: Kingsport, TN Posts: 5,904 Phone(s): LG enV2, Samsung t219 Provider(s): Verizon Wireless, T-Mobile Devices: iPod Nano Thanks: 0 Thanked 0 Times in 0 Posts	Sprint Looks To Save A Billion Sprint Looks To Save A Billion By Wireless Week Staff September 17, 2003 news@2 direct Sprint Corp.'s plan to refocus its business into two segments -- business and consumer -- will be accompanied by cost-cutting efforts that could save the company about a $1 billion a year. Up until now, Sprint has segmented its business into wireless vs. wireline and local vs. long-distance. The first step in reorganizing the company came in the form of bundled services that included local, long-distance and wireless calling features for its consumer market base. Then Sprint rolled out a bundled package of local and long-distance services for the business sector. Wireless options are expected to be added shortly. Last week, Sprint named its PCS Division President Len Lauer president and COO of the entire company. Sprint Chairman and CEO Gary Forsee believes the repositioning of the company's focus presents opportunity for revenue growth and cost synergies across both the FON and PCS groups. "While we have no timetable for recombining our tracking stocks, we continue to believe that a recombination of the stocks is likely at some point," he said in a statement. Raymond James analyst Ric Prentiss forecasts the recombining of the tracking stocks will happen in the next 12 to 15 months. In total, the company expects to reduce operating expenses by 5 percent to 7 percent. To accomplish this goal, Sprint will consolidate systems to eliminate redundancies, increase automation and redesign and streamline its overall organization. Sprint has been tackling its debt with a vengeance. During the last two quarters, the company shaved $3.5 billion in debt, which keeps Sprint on course to meet its two-year debt reduction goal of $7 billion. In December, Sprint plans to outline for investors how its cost-cutting measures will affect its 2004 earnings forecast. Sprint Looks To Save A Billion

09-17-2003, 8:44 PM	#3 (permalink)
jayc Join Date: Dec 2002 Location: Johnson City, TN Posts: 1,418 Phone(s): Samsung A670, LG VX6100, AirPrime PC 5220 Provider(s): Verizon Wireless Thanks: 0 Thanked 0 Times in 0 Posts	Sprint Looks To Save A Billion snip snip

09-17-2003, 10:52 PM	#4 (permalink)
Cenobyte Decepticon Air Commander Join Date: Sep 2002 Location: NorCal Posts: 3,273 Phone(s): LG VX8700, Everything else VZW sells Provider(s): VZW Devices: Blastech EE-3 carbine Thanks: 0 Thanked 0 Times in 0 Posts	Sprint Looks To Save A Billion Looks like Verizon will be hiring some more ex-sprint employees out here...

Thread Tools	Search this Thread
Show Printable Version Email this Page	Search this Thread: Advanced Search

Similar Threads for: Sprint Looks To Save A Billion
Thread	Thread Starter	Forum	Replies	Last Post
700-MHz spectrum to raise between $10 billion and $30 billion	jones	Wireless Network Technologies	2	02-07-2006 5:03 PM
save texts to sim	j_rae	MOTOROLA	1	04-26-2005 9:32 AM
Sprint shells out $1 billion on network upgrades	northform	Wireless News	28	07-30-2003 10:26 PM
Can I save Sprint PCS Vision Games?	mugenakuma	All Other Brands of Wireless Phones	3	12-18-2002 2:14 PM
Any new Sprint PCS users want to save $$$ on their next bill with me?		All Other Brands of Wireless Phones	2	06-20-2002 4:36 PM

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)

WirelessAdvisor.com

Clearing the static since 1998.

WirelessAdvisor.com