Layoffs coming at SPRINT

"Phill." wrote:
>
> In article <[email protected]>,
> Michael Arends <[email protected]> wrote:
>
> > 3-5k layoffs is NOT severe. Try 40,000, which my company is in the
> > process
> > of doing. 3-5000 is NOTHING for a big business.
>
> 1 layoff is a big deal if you are the one. And usually layoff is not the
> correct term since these people will not be rehired in a few months when
> business picks up again. Thats Detroit in the old days. The United
> States has lost going on 3,000,000 jobs since Bush took office. That is
> something.

It's ALWAYS a big deal to the person getting layed off. As it is with
the 40,000+ getting Laid off from Boeing. They ARE considered lay offs,
in which those people will be able to get unemployment benefits, But the
reality is, NONE of them will be getting hired on back here either.

AGAIN, I don't speak for my employer, that's just the word I'M hearing.

---

› See More: Layoffs coming at SPRINT

"Scott Stephenson" <[email protected]> wrote in message
news:[email protected]...
> Justin Green wrote:
>
> >
> >
> >
> > One intersting point is if they are considering combining the stocks
again,
> > that would indicate maybe they're not planning on selling PCS to someone
> > else.
> >
> >
>
> At first glance, I thought the same thing. But the more I think about
> it, I wonder if there doing this in hopes of eventually getting a higher
> price for it.


That is a DEFINITE possibility.

"Phill." <[email protected]> wrote in message
news:[email protected]...
> In article <[email protected]>,
> "Justin Green" <[email protected]> wrote:
>
> > One intersting point is if they are considering combining the stocks
again,
> > that would indicate maybe they're not planning on selling PCS to someone
> > else.
>
> Au contraire, it makes it much easier to sell it off from an accounting
> and bookeeping point of view.


Well, and get ready for the perfect accounting answer, "it depends". It
depends on whether they want to do an asset sale or a stock swap. If they
merge the two stocks, it's more than likely that they'll do an asset sale,
since the PCS stock will be gone. Assets sales are very very nasty to
account for, at least for income tax purposes. You have to divide the
assets into statutory asset classes and then "allocate" some of the purchase
price to goodwill, keep track of the basis of the assets, etc.

Justin Green wrote:
> "Phill." <[email protected]> wrote in message
> news:[email protected]...
>

>>Au contraire, it makes it much easier to sell it off from an accounting
>>and bookeeping point of view.
>
>
>
> Well, and get ready for the perfect accounting answer, "it depends". It
> depends on whether they want to do an asset sale or a stock swap. If they
> merge the two stocks, it's more than likely that they'll do an asset sale,
> since the PCS stock will be gone. Assets sales are very very nasty to
> account for, at least for income tax purposes. You have to divide the
> assets into statutory asset classes and then "allocate" some of the purchase
> price to goodwill, keep track of the basis of the assets, etc.
>
>

It may be 'nasty', but the cash infusion would be well worth it for
them. And we all know that have the beancounters available to put
together an asset sale (if they haven't already developed the model).

"Scott Stephenson" <[email protected]> wrote in message
news:[email protected]...
> Justin Green wrote:
> > "Phill." <[email protected]> wrote in message
> > news:[email protected]...
> >
>
> >>Au contraire, it makes it much easier to sell it off from an accounting
> >>and bookeeping point of view.
> >
> >
> >
> > Well, and get ready for the perfect accounting answer, "it depends". It
> > depends on whether they want to do an asset sale or a stock swap. If
they
> > merge the two stocks, it's more than likely that they'll do an asset
sale,
> > since the PCS stock will be gone. Assets sales are very very nasty to
> > account for, at least for income tax purposes. You have to divide the
> > assets into statutory asset classes and then "allocate" some of the
purchase
> > price to goodwill, keep track of the basis of the assets, etc.
> >
> >
>
> It may be 'nasty', but the cash infusion would be well worth it for
> them. And we all know that have the beancounters available to put
> together an asset sale (if they haven't already developed the model).


Oh, it is nasty. Not nasty enough for that to be a consideration as to
whether they'll do it or not. You're correct, they have all sorts of
bean-counters (like me) to do the nuts and bolts work.

This is beginning to sound like the story of AT&T buying T-Mobile. It
has a life of its own- speculation. we smell a disaster so we chase
after it. "Did you hear what I heard?" Gossip can become self
fulfilling in that it can hurt SPRINT in Wall street and then lead to a
collapse. Who started the rumor- a VZW employee?
Boeing lay-offs are no rumor, they are a yearly fact. If anyone lays
off employees it is bad news- just ask the person laid off.
Ironically, IT Career Center is training kids to go into the wireless
industry. What a shame if it is going to become a shrinking field. All
the carriers want to dump employees.

"Phill." <[email protected]> wrote in article
<[email protected]>:
> In article <[email protected]>,
> [email protected] (Brandt Elster) wrote:
>
> > sprint is only struggling because they hired a ton of unneeded people
> > when the economy was up. now that it is so bad they are releasing
> > people to get back to the payroll of a few years ago. Mostly what they
> > are doing is cutting programs that are not making any money.
>
> Exactly. SprintPCS is losing money (as always).
>
>
>
> > The lay
> > offs are also not only in PCS. They are hitting all over sprint.
> > Sprint is not really in trouble they are just not going to do as much as
> > they used. They are cutting projects like that sprint ion and so on.
> >
> > -Brandt

[posted via phonescoop.com]

On Thu, 18 Sep 2003 21:26:18 -0500, "Justin Green" <[email protected]>
wrote:

>
>"Scott Stephenson" <[email protected]> wrote in message
>news:[email protected]...
>> Justin Green wrote:
>>
>> >
>> >
>> >
>http://www.marketwatch.com/news/yhoo...A3FAD515B20%7D
>> >
>> > Here's the article, but I didn't see anything about layoffs. More talk
>> > about recombining the stocks.
>> >
>> >
>>
>> Yeah- I saw that one. The other I remember was more of an Op-Ed piece.
>> Damn, I need to stop reading so much -I can't remember where I saw it.
>>
>
>
>http://www.bizjournals.com/kansascit...8/daily26.html
>
>Here's a story about sprint layoffs - 9/10/03.

AT&T Wireless has already outsourced, but I don't hear any
"handwringing" about them. They have to invest alot more in their
network to "upgrade" it.

In article <[email protected]>,
"Justin Green" <[email protected]> wrote:

>
> Oh, it is nasty. Not nasty enough for that to be a consideration as to
> whether they'll do it or not. You're correct, they have all sorts of
> bean-counters (like me) to do the nuts and bolts work.


We missed you posting on Friday morning Justin.

Here's my take on all this.

If Sprint announces a $1 Billion Annual cutback, why are they unable to
announce about the layoffs?

Two reasons:

1. The need to announce the cutbacks now to keep Wall Street and their
lenders happy. SprintPCS stock had a minor uptick after cutbacks
announced.

2. They don't want to announce details about layopffs because they still
need people there come November 24 rush with number portability. A month
or two later when things settle down a little, THEN the axe will fall;
stores will be closed, people laid off.

Actually in most major cities, Sprint can likely get by with half as
many stores, they just need to allow third party dealers to do PRL and
firmware updqates oif they don't now.

<[email protected]> wrote in message
news:[email protected]...
> On Thu, 18 Sep 2003 21:26:18 -0500, "Justin Green" <[email protected]>
> wrote:
>
> >
> >"Scott Stephenson" <[email protected]> wrote in message
> >news:[email protected]...
> >> Justin Green wrote:
> >>
> >> >
> >> >
> >> >
>
>http://www.marketwatch.com/news/yhoo...o&siteid=yhoo&
dist=yhoo&guid=%7BEC6C7BCC%2D2B94%2D47DC%2D9BBB%2D8A3FAD515B20%7D
> >> >
> >> > Here's the article, but I didn't see anything about layoffs. More
talk
> >> > about recombining the stocks.
> >> >
> >> >
> >>
> >> Yeah- I saw that one. The other I remember was more of an Op-Ed piece.
> >> Damn, I need to stop reading so much -I can't remember where I saw it.
> >>
> >
> >
> >http://www.bizjournals.com/kansascit...8/daily26.html
> >
> >Here's a story about sprint layoffs - 9/10/03.
>
> AT&T Wireless has already outsourced, but I don't hear any
> "handwringing" about them. They have to invest alot more in their
> network to "upgrade" it.


Who's handwringing? I was just posting some articles.

"Phill." <[email protected]> wrote in message
news:[email protected]...
> In article <[email protected]>,
> "Justin Green" <[email protected]> wrote:
>
> >
> > Oh, it is nasty. Not nasty enough for that to be a consideration as to
> > whether they'll do it or not. You're correct, they have all sorts of
> > bean-counters (like me) to do the nuts and bolts work.
>
>
> We missed you posting on Friday morning Justin.
>
> Here's my take on all this.
>
> If Sprint announces a $1 Billion Annual cutback, why are they unable to
> announce about the layoffs?
>
> Two reasons:
>
> 1. The need to announce the cutbacks now to keep Wall Street and their
> lenders happy. SprintPCS stock had a minor uptick after cutbacks
> announced.
>
> 2. They don't want to announce details about layopffs because they still
> need people there come November 24 rush with number portability. A month
> or two later when things settle down a little, THEN the axe will fall;
> stores will be closed, people laid off.
>
> Actually in most major cities, Sprint can likely get by with half as
> many stores, they just need to allow third party dealers to do PRL and
> firmware updqates oif they don't now.



We had a charity golf tournament Friday. It's cool, our clients pay way too
much to play golf, and we give the money to charity. Everyone gets hammered
and plays some golf. Except I got too much sun.

They'd be better off just selling the assets to someone else. Cutting $ 1
billion in that manner will cost them more market share.

O/Siris wrote in <[email protected]>:

>In article <[email protected]>,
>[email protected] says...
>>
>>
>> Will Rob get laid off? I'd hate to think that such a valuable source of
>> Sprint diatribe and drivel could lose his job.
>
>It's entertaining, in a "Freddy vs Jason" kind of way, to see just how
>vindictive you bigots can be.

Nervous, huh?

I've seen your posts on this ng. If your attitude at work is remotely
close to that I hope by Christmas you are holding a "will blow your
grandpa for food" sign at a highway intersection. Preferably
someplace cold with a high murder rate of indigents.