Sprint Nextel is a telecommunication company based in Overland, faced 1.3 million customers loss in the fourth quarter of 2008. The company is predicting another loss in wireless revenue up to 5%, in case the customers are lost at the same pace.
According to records, in 2008 Sprint lost 5.1 million subscribers striking it with a revenue loss of 3.1 billion.
This was a 32 percent loss as compared to 2007. Sprint reported its 4th quarter revenue on 19th February, which was 11.2 percent down from $40.15 billion to $35.64 billion. The comparison was done with the past year’s quarter.
Throughout 2008, Sprint Nextel has upheld its status as a bad service provider.
Due to the losses in revenue, the carrier, Sprint announced in January that it is laying off 8,000 employees in order to do cost cut downs. The jobs laying were said to save $1.2 billion per year. Sprint has continuously been trying to retain and gain customers to get going. It has also been offering fringe benefits to its customers specially keeping in view the loyal customers.
The telecommunication company has been offering wireless programs and several new series of plans of flat rates unlimited plans for Nextel Direct Connect customers. Sprint is not alone in facing financial crises and customer losses as such. A long list of famous big companies is there who have faced heavy losses due to the world over economical recession.
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