T-Mobile to lay off 5,000 employees in coming weeks

Aug 24, 2023 | Canyon Crest Guide Newspaper | 0 comments



SEO Content Writing Service

Wireless carrier T-Mobile said Thursday it plans to cut 5,000 jobs, or about 7% of its workforce.

In email to employees shared in a regulatory filing, CEO Michael Sievert said the layoffs would come over the next five weeks and impact T-Mobile workers across the country — particularly those working in corporate and back-office roles, as well as some technology positions. Retail and customer service teams will not be part of the cuts.

“This is a large change, and an unusual one for our company,” Sievert wrote. “Because of this, we do not envision making additional largescale reductions across the company again in the foreseeable future.”

Newspaper Ads Canyon Crest CA

T-Mobile estimated it will book a pre-tax charge of about $450 million in the third quarter related to the job cuts. Laid-off employees will receive severance payments based on tenure, 60 days minimum of transition leave, career transition services and other benefits, Thursday’s announcement said.

The layoffs at T-Mobile follow mass job cuts in the past year at a handful of technology companies — including Google, Meta, Amazon and Microsoft. Beyond the tech sector, layoffs have also hit Disney park employees, newspapers and some higher education jobs.

Sievert said the T-Mobile jobs impacted by the upcoming layoffs “are primarily duplicative to other roles” or may not fit with current changes and priorities at the company. He also pointed to rising costs of attracting and retaining customers.

The current restructuring is aimed at getting T-Mobile “efficiently focused on a finite set of winning strategies,” Sievert added — later noting that the company needs “to move at the speed of technology,” by using artificial intelligence and other tools to meet customer needs and stay competitive.

Last month, T-Mobile reported a second-quarter profit of $2.22 billion — up from a $108 million loss seen for the same period of 2022 — and posted total service revenues of $15.74 billion.

The Bellevue, Washington-based company became one of the country’s largest cellphone service carriers in 2020 after buying rival Sprint, In May, T-Mobile also announced plans to acquire Mint Mobile, partly owned by actor Ryan Reynolds, in a cash-and-stock purchase of Ka’ena Corp. worth as much as $1.35 billion.

T-Mobile shares were down 2% in afternoon trading Thursday.




Anxiety Stress Management

Live a Life of Contentment eBook We all want to be satisfied, even though we know some people who will never be that way, and others who see satisfaction as a foreign emotion that they can’t hope to ever feel.

Newspaper Ads Canyon Crest CA

Click To See Full Page Ads

Click To See Half Page Ads

Click To See Quarter Page Ads

Click To See Business Card Size Ads

If you have questions before you order, give me a call @ 951-235-3518 or email @ canyoncrestnewspaper@gmail.com Like us on Facebook Here

Attorney Websites For Sale 4ebusiness Media Group


Source link

You May Also Like

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Contact Us

Contact Us

Personal Injury Attorney

Websites For Sale Personal Injury Attorneys

Criminal Defense Attorneys

Websites For Sale Criminal Defense Attorney

Bankruptcy Attorneys

Websites For Sale Bankruptcy Attorneys

General Practice Attorneys

Websites For Sale General Practice Attorneys

Family Attorneys

Websites For Sale Family Attorneys

Corporate Attorneys

Websites For Sale Corporate Attorneys

Home Privacy Policy Terms Of Use Anti Spam Policy Contact Us Affiliate Disclosure Amazon Affiliate Disclaimer DMCA Earnings Disclaimer