Telecom & Wireless
How Many People Will Be Fired When Sprint Is Married to T-Mobile?
Published:
Sprint Corp. (NYSE: S) and T-Mobile US Inc. (NASDAQ: TMUS) finally will merge. As is true in all such combinations of similar companies, some people will lose their jobs. Sprint has roughly 28,500 employees. T-Mobile has about 52,000.
Several sets of employees will be out of work eventually, although the companies may wait until the merger is a year or two old. The two companies do not need to each have thousands of stores. Some retail workers are as good as gone.
The two companies obviously will combine headquarters staffs. General and administrative staff will be cut as well. This will include people in accounting, finance, human resources and corporate communications. The company will not need two sets of investor relations people.
The number of workers who run the infrastructure will be cut back as well. The merged company will not need as many technicians as they eventually merge their infrastructures. Some of these people work in data and hub centers. Others work well outside central offices, where they handle system upgrades and repair.
Data released by the company shows that senior management will be paid very well when the combination is underway. In the meantime, a lot of people will not survive the transition.
The Average American Is Losing Their Savings Every Day (Sponsor)
If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4% today, and inflation is much higher. Checking accounts are even worse.
Every day you don’t move to a high-yield savings account that beats inflation, you lose more and more value.
But there is good news. To win qualified customers, some accounts are paying 9-10x this national average. That’s an incredible way to keep your money safe, and get paid at the same time. Our top pick for high yield savings accounts includes other one time cash bonuses, and is FDIC insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes and your money could be working for you.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
