Sprint CEO Marcelo Claure (pictured) revealed the operator will further reduce the number of executives throughout the company as part of a bid to cut costs.
During an earnings call today (2 February), Claure said the operator will streamline its executive positions across its non-customer facing operations to “deliver a leaner and more agile workforce” and “get better alignment of responsibilities and better operational effectiveness.”
The move follows a reshuffle of Sprint’s leadership team in late 2017, which included the departure of COO of Technology Gunther Ottendorfer as Claure slashed the number of executives reporting to him from 16 to 9. It also comes as Sprint pushes ahead with a multi-year plan to cut billions in costs from its bottom line.
CFO Michel Combes said Sprint had taken roughly $6 billion in costs out of its business to date. But he sees “more room to improve operational efficiency and extract significantly more costs out of the business”.
In its fiscal Q3 (covering the three months to 31 December 2017), Sprint reported $260 million in year-on-year cost reductions, excluding $100 million in hurricane recovery and other non-recurring expenses. Combes said the operator is already planning additional cost cutting initiatives for its fiscal 2018 year.