Sprint Nextel Corp. S, end of market report down 2.92%
Sprint Nextel Corp.
Sprint Nextel will lay off about 4,000 employees and close about 125 retail outlets after it suffered a net loss of more than 100,000 customers in the fourth quarter of 2007, the company said Friday.
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Sprint Nextel Corporation (Sprint Nextel) is a holding company that offers a range of wireless and wireline communications products and services for individual consumers, businesses and government customers. The Company conducts its operations through two segments: Wireless and Wireline. Sprint Nextel owns wireless networks and a global long distance, Tier 1 Internet backbone. The Company offers digital wireless service to subscribers in all 50 states, Puerto Rico and the United States Virgin Islands under the Sprint brand name utilizing wireless code division multiple access (CDMA) technology. The Company offers digital wireless services under its Nextel brand name using integrated digital enhanced network (iDEN) technology. On September 23, 2008, the Company closed the transaction with TowerCo Acquisition LLC, under which it sold 3,084 cell sites.
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