T-Mobile cutting 5,000 jobs
T-Mobile US is cutting 5,000 jobs, a move that reduces its workforce by about 7%.
The reductions, announced in a letter from CEO Mike Sievert reported by CNN, will include mostly corporate, technology and back-office jobs found in the company’s middle management layers. The company also plans to reduce its spending on “external workers and resources.”
Retail and customer care workers will not be impacted, Sievert wrote.
“Impacted roles are primarily duplicative to other roles or may be aligned to systems or processes that are changing, or may not fit with our current company priorities,” Sievert wrote.
The cutbacks will occur over the next five weeks.
Employees involved in the cutbacks will receive severance pay based on tenure plus at least 60 days of transition leave including pay and benefits.
According to CNN, T-Mobile reported sales down 2.5% year-over-year in its most recent quarterly earnings report.