Wednesday, October 16, 2019

Massive Sprint Layoffs One Step Closer

FCC granted approval today in a vote across party lines . . . Unfortunately, neither politics nor corporate promises will save the economic bloodletting coming the way of Johnson County. Checkit:

The T-Mobile and Sprint Merger Will Only Hurt Consumers

Read more: The people who lose when companies merge The T-Mobile-Sprint merger will end a golden age in wireless that helped bring to market lower prices and more innovative services. It will mean an end to the competitive rivalry that reduced consumer rates by 28 percent during the past decade.

10 comments:

Anonymous said...

I had a lot of friends with huge Sprint retirement accounts in 2000. Now that the stock price has dropped, they are poor, and cant retire.

Grip Madlock said...

My wife was one of them,26 years of her life down the drain due to some fucking idiot thinking that catering to nascar rednecks and walkie talkie phones.

Anonymous said...

Well the Nextel merger was 20 years ago. What was there excuse after that? Sprint was not able to crack major markets on the east and west coasts. They weren't hip.

Anonymous said...

Oh brother! Blaming Rednecks. It never ends......

Anonymous said...

26 years of her life down the drain? You mean she didn't have a salary and benefits?

The typical 401(k) offers investment funds besides company stock. And the company shares in the stock fund normally can be sold and reinvested elsewhere. Did she not do that?

Anonymous said...

Trump’s economy! We are winning so hard! MAGA!

Grip Madlock said...

14,but who is counting.

Anonymous said...

I heard they matched with company stock for a long time, but you couldn't move it to another investment ... until the stock tanked. If the merger doesn't go through, then there will be a lot of layoffs, so either way, cuts are coming. The merged company will be much stronger, though. T-Mobile could use Sprint's good spectrum assets. AT&T and Verizon likely have big lobbyists fighting this behind the scenes. They don't want a strong #3 competitor. Both companies are in the top tier for spending on lobbyists. Maybe that's why they charge out the ying yang for cell phone service ... have to pay all those lobbyists and pensioners.

Anonymous said...

Don't forget, Sprint folks were paid 10 to 20% more than counterparts in other computer programming companies. And they bought stock through the company stock purchase plan. People bought huge amounts of shares. They didn't merge with the Tulsa based scam telecom company WORLDCOM. Sprint dodged the bullet there. But then came out with the ION project which failed. Sprint staff used to go to the AMC theatres next door and watch movies and make out with each other during the day. Many staff worked from home, or basically didn't work, but got a paycheck and had sex during the time they should be working. One nympho Spring manager would go to Town Center and she would proposition men and have sex with strangers in their cars. it was a screwed up place.

Anonymous said...

What are the JoCO people going to do when they have no jobs and no more money? Good luck making anywhere close to what you were making at sprint doing what you were doing in other places in the metro. It won't happen.