Sprint Nextel's (S) New CEO To Lay Off Thousands

First project for new Sprint Nextel (S) chief Dan Hesse: Trim the fat. The No. 3 U.S. wireless carrier will lay off “a few thousand” of its 60,000 employees, the WSJ reports ($). The company is also considering consolidating its corporate headquarters from Reston, Va. — the former Nextel HQ — to Overland Park, Kan., where Sprint was based before it bought Nextel for $34 billion in 2005.

While rivals AT&T (T) and Verizon Wireless (VZ, VOD) have grown in recent quarters, Sprint has lost customers. Former chief Gary Forsee stepped down in October; Hesse was appointed last month.

See Also:
How Sprint’s New CEO Can Turn Things Around
Sprint WiMax Still On Track For April Launch

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