Sprint-Nextel Merger (layoffs in the offing)

[UpInArms]

http://www.wibw.com/home/headlines/1301026.html

When Sprint and Nextel merge next year, its two lead executives will continue to pull in combined salaries of more than five million dollars a year. Documents filed yesterday with the Securities and Exchange Commission show that Sprint CEO Gary Forsee and Nextel CEO Timothy Donahue will not see any change in their employment agreements once the merger is final. The two companies on Wednesday announced a 35 billion merger to create the nation's third-largest wireless telephone provider. They said they expected the consolidation would save 12 billion dollars, partly through layoffs. Forsee will be the merged Sprint Nextel chief executive while Donahue will be executive chairman. Donahue said in a letter that he expects to remain with the company for at least six months after the merger.

...very short newsblurb...

[hatrack]

1. No, no! "Synergies", not "Layoffs"!

Bad consumer! Naughty consumer!

[OnlyInAmerica]

2. All they want to do

Is eliminate "duplication of services", which is an awful lot like shit canning a bunch of employees but better.

[area51]

4. layoffs

I wish the rt-wing media would call these what they really are: they're firings, not layoffs. "Layoffs" insinuates that @ some people people will get their jobs back; we all know this'll never happen.

[mbperrin]

3. So relieved to see that the CEOs' jobs won't be affected!!!

Tough at the top you know! Not like the easy ride the rest of us "lucky ducks" get!

[mhr]

5. But, But I Thought The Telecom Layoffs Had Ended

Shrub told me just this week that happiness was around the corner and that the unemployed would see jobs aplenty very soon.

I need one badly - unemployed 54 months!

[autorank]

6. Nothing good ever comes from SPRINT!

They destroy everything they touch. It's a testimony to 'socialism for the rich' that they're even in business. The Nextel employees were betrayed by their leaders and the shareholders will suffer in the near term.

Nothing good ever comes from Sprint. In 1986-87 GTE and United Telecom merged their long distance units to become Sprint (GTE totally divested). United Telecom of KC swiped Telenet from GTE as part of the deal (Telenet was the original internet back then and quite a company). Sprint ruined it and took GTE's company Sprint Long Distance and created a mediocre company with crappy service. Ask five people who have Sprint what they think and at least two of them will tell you their bills are always screwed up and the service is inconsistent.

This sucks!

[democraticrevolution]

7. Well

You know I think corporations now realize that they really don't have to have ethics anymore lol.