Sprint Nextel dismiss every seventh employee.

The U.S. telecommunications company Sprint Nextel announced a reduction of eight thousand new jobs over the next three months, reported Bloomberg. This number is roughly equivalent to 14 per cent of the total number of employees.
Thanks to massive layoffs Sprint will be able to save for a year about 1.2 billion dollars. Additional funds are needed for the company to pay his debts in excess of September 2008, 20 billion dollars. At the same time, its market value is only 7.2 billion dollars. Now American companies is difficult to refinansirovatsya on the open market because interest rates on bonds and loans are very high.
Sprint has joined its rival AT & T in the process of job losses. In total, according to the U.S. Department of Labor, the number of initial applications for unemployment benefits rose last week to 600 thousand, which is a 26-year maximum.
Sprint Nextel is the third largest cellular operator in the U.S., providing services to more than 50 million customers. In doing so, the company has net losses the past four quarters. In the third quarter of 2008, losses amounted to 326 million dollars.
In early 2008, the company also announced the dismissal of employees. Then it was reduced 6.7 per cent of the workforce, but it did not help us get out of negative numbers.