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Sprint Reorg Aims to Save $1B

Sprint Corp. (NYSE: FON) today announced a three-year plan to reorganize the company around two market segments -- business and consumer -- which it hopes will save it $1 billion in costs (see Sprint Outlines Restructuring).

Currently, Sprint is structured around three product lines -- local telecommunications, global wireline voice and data services, and wireless. By combining these groups, Sprint expects to eliminate redundant services, automate certain network functions, and move more services online.

There will be layoffs associated with the restructuring, but details were not immediately available.

Get the details that are available on Boardwatch.

— Jo Maitland, Senior Editor, Boardwatch

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