Sprint Nextel Corp. Announced: Jan. 26 Number of layoffs: about 8,000 positions Reason for the cuts: The Overland Park, Kan.-based company has struggled since acquiring Nextel Communications Inc. in 2005 as technical problems, poor efforts to consolidate the two companies and stiff competition for feature-rich phones has led many subscribers to switch to competing services. It lost a net of more than 3 million subscribers in the previous four quarters, and it seeks to cut annual costs by $1.2 billion.
Don Emmert / AFP/Getty Images
Copyright © 2018, Los Angeles Times