Sprint to Close 125 Stores, Cuts 4,000 Jobs

Fortune is reporting that Sprint plans to cut 4,000 jobs and shut down 125 retail locations this year:

“The news keeps getting worse at Sprint. The struggling wireless telco suffered its worst quarter yet for customer defections, saying a staggering 683,000 post-paid users headed for the door in the fourth quarter. Sprint’s churn, reflecting the rate of monthly subscriber loss, rose to 2.3 percent, which is more than double the rates recently posted at the fastest-growing big carrier, Verizon Wireless.”

Sprint is the nation’s third largest carrier, with approximately 54 million subscribers. AT&T and Verizon are neck and neck, with 66 and 64 million respectively. T-Mobile brings up the rear (of the four major carriers) with 28 million customers.

Sprint cutting back again [Fortune]