US Sprint Cutting 5% of Work Force:...
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From Times Staff and Wire Reports
US Sprint Cutting 5% of Work Force: The nation’s No. 3 long-distance telephone company said it will cut 1,000 workers after its parent, United Telecommunications Inc., reported a 55% drop in second-quarter earnings attributed to the subsidiary’s losses. Sprint said the job cuts would be completed by year-end as part of a broad restructuring. United Telecom also postponed its purchase of GTE Corp.’s 19.9% stake in Sprint.
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