Masayoshi Son, CEO of SoftBank, said the company plans to eliminate thousands of jobs at Sprint in order to reduce costs and aid in the company’s turn-around plans.
Son made the comments while discussing SoftBank’s financial performance, which was impacted negatively by Sprint. SoftBank owns a majority stake in Sprint. The job cuts have been expected since last month, when Sprint’s CFO said they are necessary to meet financial goals. Sprint CEO Marcelo Claure recently indicated the cuts would be made by the end of January.
Neither SoftBank nor Sprint has said which areas of the company will be affected.
