Sprint to cut up to $2.5B in costs, jobs

Sprint Corp. is preparing to cut as much as $2.5 billion in costs in the next six months, as the struggling wireless carrier steps up its belt-tightening.

Sprint, which employed 31,000 people at the end of March, expects to lay off employees, though a specific number was not given.

The announcement comes days after Sprint said it would not participate in the next major auction of wireless airwaves, a move that would save the company billions but limit its options for network upgrades.

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