Sprint Dials Back Health Benefits, Eliminates Free Snacks During $2.5 Billion Costs Purge
Sprint employees may want to bargain with their children for a cut of their Halloween candy and bring their spoils to work. It's either that or pack some spare change for the vending machines. That's because Sprint CEO Marcelo Claure is is aggressively looking to cut costs, and one way he plans to do that is by eliminating free snacks for employees.
It sounds like a trivial thing, but in the corporate world, it's those little things that can go a long way towards maintaining employee morale. Nevertheless, the snacks are gone, thus ending a perk that Claure implemented earlier this year. It's also a perk that would have cost Sprint around $600,000 per year.
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.
It sounds like a trivial thing, but in the corporate world, it's those little things that can go a long way towards maintaining employee morale. Nevertheless, the snacks are gone, thus ending a perk that Claure implemented earlier this year. It's also a perk that would have cost Sprint around $600,000 per year.
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.
