KANSAS CITY, Mo. (AP) _ A Wall Street analyst predicts that Sprint Nextel will announce ``significant'' job cuts next month in a move to reduce ``its bloated cost structure.''
Writing on his blog Monday, Pali Research analyst Walter Piecyk said he also expects executives at the Overland Park-based wireless carrier to consider lowering its prices. The adjustment would spark gains against market leaders AT&T Mobility and Verizon Wireless.
Sprint Nextel has struggled since acquiring Nextel in 1995 as technical problems, ineffective marketing and poor meshing of the two companies have led to massive subscriber losses. The carrier lost 1.3 million subscribers in the third quarter alone.
Last month, Sprint said it was offering voluntary buyout packages to an unspecified number of its 57,000 workers.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
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