T-Mobile Joins Bevy Of Companies Opting For Downsizing Employee Workforce

T-Mobile US, Inc (NASDAQ:TMUS) has laid off workers in its network operations and engineering group, the Wall Street Journal reports.
The layoffs are a part of a restructuring program that eliminated thousands of jobs since the company merged with Sprint two years ago.
A terminated employee disclosed that the latest layoffs occurred lately among managers and executives.
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Other T-Mobile workers shared losing their jobs on internet forums.
T-Mobile acknowledged the move as part of continuing organizational shifts.
T-Mobile had about 80,000 workers after it closed its takeover. It ended in 2021 with 75,000 workers.
In July, T-Mobile increased the amount of its expected cost savings from the Sprint deal by $200 million to a range of $5.4 billion to $5.6 billion.
T-Mobile added 380 thousand postpaid net accounts and 1.7 million postpaid net customer additions, more than AT&T Inc (NYSE: T) and Verizon Communications Inc (NYSE: VZ) combined and the highest Q2 ever.
Various companies, including Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, and Meta Platforms Inc (NASDAQ: META), reportedly looked to downsize their workforce or ease their hiring pace amid the present macro uncertainties.
Price Action: TMUS shares traded lower by 0.17% at $143.73 premarket on the last check Thursday.
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