Sprint to Outsource Software Operations
From Associated Press
Sprint Corp. said it would use outside contractors to handle some software operations, a move the telephone company said would result in hundreds of layoffs.
Sprint said it had reached separate agreements with IBM Global Services and EDS Corp. to provide application development and maintenance support for selected software systems.
Sprint’s information technology operation currently employs about 7,000 workers.
Shares of Sprint FON were down 41 cents to $14.63, and shares of Sprint PCS fell 14 cents to $5.68. Both trade on the New York Stock Exchange.
