China Financial Daily

January 31, 2009

Dexia layoffs & Sprint Nextel layoffs

Filed under: Financial News — Tags: , — Nancy @ 11:03 pm -0800

Dexia has three billion U.S. dollars loss and plans to lay off 900 people
News on January 30, 2009: Fabius Dexia bank said that the loss in the fourth-quarter reached about 2.3 billion euros (about three billion U.S. dollars). Moreover, the company said as a part of reorganization, the company would lay off 900 people in 2009 and close operations in several countries.

The third largest U.S. operator Sprint announced to lay off 8000 people
News on January 26: according to foreign media reports, the United States third largest mobile operator Sprint Nextel announced to lay off about 8000 employees so as to further reduce costs and ward off economic recession.

Sprint Nextel said the layoff would involve all levels of staff and reduce the annual cost of 1.2 billion U.S. dollars. The company plans to pay 300 million U.S. dollars for severance pay.

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