In the first cost-cutting move by new Sprint CEO Dan Hesse, 4,000 jobs were cut. Its stock subsequently sunk 26% to a new 52-week low of $8.56. Wall Street is overreacting, we have this feeling in our heart of hearts that Hesse can turn things around. [Reuters]
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The stock plunge wasn’t due to the job cuts, it was due to the terrible subscriber numbers that came out.
Why on earth would you link to a subscription based article?
@JustAGuy2: Shhh- you’re ruining the sensationalism.
I’m riding my spring ship untill it sinks- I’m still getting a 40% discount on my bill for a job I quit 3 years ago. Hooray for mismanagement!
“sprint ship”, sorry- spring ship is just silly. Everyone knows springs don’t float.
Wow – I’ve seen sub-prime lenders with higher stock than that. Sprint has no excuse. There was no cell phone market melt down – they’re just plain un-innovative.
Does Ben own Sprint stock? Posts like this make me wonder.
whoever greenlit that nextel merger was drunk. or high. or both drunk AND high.
@sleze69: By accident. It was supposed to a Reuters article. Link will be correct soon.
@jld: Gimmie a break. No.
683,000 lost subscribers. To put that into perspective, that’s more than the entire populations of Alaska, North Dakota, Vermont, Washington DC, or Wyoming.
I was one of those who jumped from that sinking ship. I have been so happy since then, I have cried tears of joy.
To all providers, end-consumers are just an afterthought. It’s just a matter of how treats us a little bit less like shit than the other guy.
@savvy999: yeah, this ship is riding high in the water lately. Luckily, I’ve never had to deal with customer service.
I have a feeling that when they do go down, it will be easier to just cancel the card they auto-bill and open a new one, rather than fighting them.
@BugMeNot2:
Yep…that and just generally bad customer service.
I know that this wasn’t going to end well the minute they started calling the Nextel phones “walkie-talkies”. You (Sprint) just devalued an asset you acquired reducing it to a toy, not a communications device.
aaaaah Sprint… The company that locked its door in my mom’s face as she walked up to the store in Colonial Heights (Southpark next to wally world) as she needed a battery for a phone that is at LEAST 6 years old that they wont update without my little brother present… She cant buy a new phone or upgrade it as they share a plan and he does not live here.
I watched the girl lock the door as my mom was 3 steps from opening it. (4:48pm on a saturday) It was awesome. I had not seen my mom blow her stack in years. We went down to the AT&T store and they happily found her a battery and they were nothing but NICE TO A SPRINT CUSTOMER!!!! How sad is that? (Im a long term Verizon customer and I have to say what I saw in the AT&T store was MUCH different from the pissed off folks I see at MY store…
Heck even USAA dropped Sprint as a ‘USAA discount carrier’
V
Sprint still can’t figure out how to tell you how many voicemail messages you have in your mailbox on your handset – you’re notified you have “1 new message” the first time someone leaves one… after that, no new notifications unless you call in and erase the first message.
Brilliant!
Sprint is a sinking ship, but I don’t see them just going bankrupt and disappearing. I hope a Google Android phone comes out soon.
I hope Sprint gets its act together, because alternating between two (viable) telecom companies that are Satan’s spawn gets rather dreary.