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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  1. JustAGuy2 says:

    The stock plunge wasn’t due to the job cuts, it was due to the terrible subscriber numbers that came out.

  2. sleze69 says:

    Why on earth would you link to a subscription based article?

  3. m4ximusprim3 says:

    @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!

  4. m4ximusprim3 says:

    “sprint ship”, sorry- spring ship is just silly. Everyone knows springs don’t float.

  5. Rando says:

    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.

  6. jld says:

    Does Ben own Sprint stock? Posts like this make me wonder.

  7. BugMeNot2 says:

    whoever greenlit that nextel merger was drunk. or high. or both drunk AND high.

  8. Ben Popken says:

    @sleze69: By accident. It was supposed to a Reuters article. Link will be correct soon.

  9. Ben Popken says:

    @jld: Gimmie a break. No.

  10. savvy999 says:

    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.

  11. dgcaste says:

    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.

  12. m4ximusprim3 says:

    @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.

  13. mdot says:

    @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.

  14. vdragonmpc says:

    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

  15. RottNDude says:

    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!

  16. twoply says:

    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.

  17. Trai_Dep says:

    I hope Sprint gets its act together, because alternating between two (viable) telecom companies that are Satan’s spawn gets rather dreary.