Sprint Dials Back Health Benefits, Eliminates Free Snacks During $2.5 Billion Costs Purge
Overall, Sprint reported $26 billion in costs for the its fiscal year ended March 31, 2015. Claure's goal is to reduce that number by as much as $2.5 billion, and eliminating things like free yogurt and other snacks won't be enough. Other perks have to go as well, and there are some policy changes being put into place too.
Going forward, Sprint executives can no longer roll into meetings like a boss by hiring a driver with a limousine. Instead, they'll have to truck it around around town using Uber or standard taxi services.
Other cost saving measures will hit the gut a little harder than the reduction of luxury amenities. Sprint doesn't plan on giving out any raises this year, and many employees will pay more than they're used to for health care benefits. And of course Sprint is planning a round of layoffs, only this time they'll receive just one week of pay for every year worked as severance instead of two weeks pay.