Key Points
United States telecommunication company T-Mobile has informed that they will layoff 7% of their employees in a bid to aid cost cutting, as the company spends heavily to attract new subscribers in an increasingly competitive market...
According to Bloomberg report, the corporate and back-office employees are likely to be affected..
T-Mobile Chief Executive Officer, Mike Sievert said in a letter to employees that the cost of attracting and retaining customers is materially more expensive than it was just a few quarters ago.".
The move signals that T-Mobile is looking to offset a new round of heavy discounts and free phone promotions going into the holiday season, fueled in part by the arrival of the newest version of Apple Inc.s iPhone..
T-Mobile, like other US carriers, is grappling with a slowdown in subscriber growth as cable giants Comcast Corp. and Charter Communications Inc. sign up hundreds of thousands of new customers by offering free mobile lines..
