Technology

April 23, 2014

Sprint increases the cost estimate of job cuts

The layoffs, announced in January, have triggered severance and related costs totaling $180 million, or $15 million more than previously reported. The $15 million cost will be included in the company’s first-quarter results, which will be released next week.

Sprint Corp. bumped up by $15 million its estimated costs tied to previously reported job cuts and store closings.

The additional expenses represent severance and related costs and come on top of $165 million the Overland Park-based wireless company reported late last year, according to a filing with the Securities and Exchange Commission.

Sprint had said in January that it would eliminate up to 500 jobs tied to less profitable retail stores it was closing. The total cutback, which includes other jobs at customer care centers and in business sales, has not been disclosed.

The filing said the $15 million cost would be included in the company’s first-quarter results, which will be released next week.

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