Major Sprint Corporate Re-Org
Last week, I wrote that Sprint PCS’ Len Lauer’s move to the COO position of the parent company indicated “the desire to further integrate the two divisions”. Well, one week later Sprint has acted on that desire in grand fashion. Announced today, Sprint will work towards re-combining their wireless and wired divisions, recombining the stock, and re-structuring the company around enterprise and consumer divisions. Sprint expects between 3% and 7% cost savings from consolidation as they continue to pay down their debt. Sprint fixed stock climbled 1.7% today, while PCS stock was up 4.35% on the news.