T-Mobile Laying Off 5,000 Employees, Around 7% Of Its Workforce By End Of September
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T-Mobile is laying off around 7% of this workforce.
The CEO announced plans to lay off around 5,000 employees.
He also added, “we do not envision making additional large-scale reductions across the company again in the foreseeable future.”
T-Mobile plans to lay off close to 5,000 employees, about 7 percent of its workforce, by the end of September, the company’s president and CEO said in an email to employees Thursday.
The layoffs will primarily affect corporate, back-office and technology roles, while retail and other customer-facing roles “will not be impacted,” Mike Sievert, T-Mobile’s president and CEO, said in the email disclosed in a Securities and Exchange Commission filing.
Sievert noted that the impacted positions are “primarily duplicative to other roles” or no longer align with changing systems, processes and “company priorities.” He also said T-Mobile does not plan on making additional cuts in the near future.
“This is a large change, and an unusual one for our company. We’re tackling the tough decisions now, because I wanted to make sure that people working here are not wondering what’s next, after this process concludes,” Sievert said. “Because of this, we do not envision making additional large-scale reductions across the company again in the foreseeable future.”
There have been months of mass layoffs at various tech companies.
T-Mobile’s cuts comes after months of mass layoff announcements at a range of other technology companies — including Microsoft and Meta — as firms grapple with an uncertain economic environment.
In its most recent quarterly earnings report last month, T-Mobile reported sales down 2.5% year-over-year and net customer additions fell slightly from the same period in the prior year, although it posted record low customer churn and profit growth. T-Mobile’s stock has fallen more than 7% since last August. Shares were trading down around 1% following its layoff announcement.
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