Sprint may be preparing to make some major cuts, including layoffs, as it struggles to rebuild its network and gain ground on rival carriers.
A Dow Jones report this afternoon said the carrier will cut between $2 billion and $2.5 billion in costs in the next 6 months, as well as cutting an as-yet-unknown number of jobs.
The last thing we heard from Sprint was an announcement that it would not take part in the Federal Communication Commission's (FCC) annual spectrum auction, which is arguably the biggest event in the wireless world.
Sprint reported a much smaller-than-expected loss in the June-ending quarter, however, and added a net 675,000 customers. The carrier said its existing cost-cutting program contributed to its performance in the period.
Still, Sprint slipped to fourth-place among U.S. wireless carries by subscribers, falling behind T-Mobile US, which reported an increase of 2.1 million customers. Sprint reported 57.7 million customers, while T-Mobile reported 58.9 million.