Sprint Executive Confirms Company Targeting $2.5 Billion in Budget Cuts

October 13, 2015 |Companies

Sprint Chief Financial Officer Tarek Robbiati confirmed reports (see 1510020053) the company is planning to cut $2.5 billion in costs, an article posted on SeekingAlpha.com said Friday. While in Tokyo for a meeting with SoftBank executives, Robbiati said Sprint's cost structure is "bloated" and it will cut $2 billion in operating costs and an additional $500 million in equipment spending, according to Seeking Alpha.