T-Mobile CEO Mike Sievert blames rising costs.
employed 5,000 fewer people at the end of 2020 when compared to before it merged with Sprint.
“What it takes to attract and retain customers is materially more expensive than it was just a few quarters ago,”, adding that its existing strategies are not enough to “deliver on these changing customer expectations going forward.” In addition to the layoffs, Sievert says the company will need to work toward “re-prioritizing” its work and “optimizing every dollar” as it deals with rising costs.
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