Sprint parent SoftBank plans to clear out most of the staff of its Silicon Valley offices, according to a Reuters report, following SoftBank's aborted effort to merge Sprint with T-Mobile US.
Sprint CEO Marcelo Claure is expecting strong December sales thanks to a new promotion Sprint launched on Friday to cut customers' service bill prices in half if they switch from Verizon Wireless or AT&T Mobility and buy a new Sprint phone.
Sprint decided to go after Verizon Wireless and AT&T Mobility and not T-Mobile US with its new half-off billing price promotion because Sprint has seen a positive response in attracting Verizon and AT&T customers with its existing shared data plans, according to Sprint CFO Joe Euteneuer.
Sprint reported a wider loss and slightly less revenue than analysts had expected, and the carrier said it plans to cut another 2,000 jobs. However, the carrier said that its recent pricing overhaul has generated interest, and that its results during September indicate it is beginning to reverse years of subscriber losses.
Sprint said it will shine in the second half of the year and set itself apart from the competition in terms of network speeds and improved capacity. At that time, Sprint will be deploying LTE radios in the 2.5 GHz spectrum, said a senior Sprint executive at an investor conference Monday.
In 2013 Sprint CEO Dan Hesse had probably his busiest year at the helm of the carrier since he came on board in late 2007, and the company handsomely rewarded him for his efforts. Hesse scored a total compensation package of $49 million in 2013, according to a filing with the Securities and Exchange Commission. That figure is far above Hesse's 2012 compensation and made him easily the highest-paid executive in the wireless industry last year.
Sprint's management and the wider company is in line with the thinking of its hard-charging chairman, SoftBank CEO Masayoshi Son--contrary to a recent report of friction between Son and some Sprint executives, according to Sprint CFO Joe Euteneuer.
Sprint's subscriber numbers were bolstered by a surge in tablet activations, which Sprint CFO Joe Euteneuer attributed to a variety of factors, including Sprint's introduction of installment pricing for tablets last fall and its holiday promotions.
Sprint stunned the market and said it will not participate in the Jan. 22 auction of the 1900 MHz PCS H Block. The news surprised the industry because Sprint owns spectrum directly adjacent to the H Block and was considered a key contender for the spectrum.
Sprint CFO Joe Euteneuer said the carrier remains open to using its multi-mode base stations to host another company's spectrum, provided such a deal was beneficial to both parties.