A Sprint store in Springfield, Mo. | Nicole Lunger/Missouri Business Alert

Sprint slashes employee severance pay by 50 percent



A Sprint store in Springfield, Mo. | Nicole Lunger/Missouri Business Alert
A Sprint store in Springfield, Mo. | Nicole Lunger/Missouri Business Alert

In an effort to slim down operating costs of $2.5 billion, Sprint Corp. is slicing severance pay in half for employees notified after Jan. 30 that they will be laid off.

The standard severance pay for Sprint is two weeks pay for one full year worked at the company. Now, that will turn into one week of pay for a year worked at Sprint.

This likely means that the Overland Park-based wireless carrier is on the brink of another round of layoffs. Sprint spokeswoman Melinda Tiemeyer said this is part of Sprint CEO Marcelo Claure’s effort to transform the company.

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