T-Mobile US Plans To Slash Workforce By Under 7% Or 5000 Positions

RTTNews | 451 dagar sedan
Stocktwits
T-Mobile US Plans To Slash Workforce By Under 7% Or 5000 Positions

(RTTNews) - Telecom major T-Mobile US, Inc. (TMUS) announced Thursday in an email to its employees that it is planning to reduce the size of its workforce by just under 7 percent or 5,000 positions.

The changes are expected to take place over the next five weeks in locations across the country, primarily in corporate and back-office, and some technology roles. The company plans to have all notifications complete by the end of September.

T-Mobile's President and CEO Mike Sievert noted in the email that retail and consumer care experts who take care of customers will not be impacted.

Sievert said some areas of the business will be implementing more centralized models where they can improve efficiency and effectiveness and save costs.

"We can be smarter, faster, and even better at competing, by streamlining our operating model and structure to reduce the complexity. You have my commitment that our organization will create more individual empowerment and faster decision-making over time," added Sievert.

The company is planning to build bigger, broader people manager roles with deeper spans and fewer layers, to provide longer-term growth opportunities, while decreasing its reliance and spend on external workers and resources.

T-Mobile estimates that it will incur a pre-tax charge of approximately $450 million in the third quarter of 2023 related to the workforce reduction. The Company reiterates the fiscal year 2023 guidance it previously issued.

Sievert ended by saying he does not envision making additional large-scale reductions across the company again in the foreseeable future.

Taggar: TMUS
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