Sprint (S) Stock Higher After Company Takes New Charge

By Shawn Ingram

| 11/07/14 – 09:40 AM EST

NEW YORK (TheStreet) — Shares of Sprint
(S) were gaining 1.3% to $4.75 Friday after the wireless carrier disclosed it will take $105 million in additional charges for the third quarter.

Sprint said it will take the charge for severance and related costs connected to its plan to cut 2,000 more jobs. The company started implementing its plan to eliminate the jobs and cut costs at the end of September.

The new charge is in addition to the $160 million charge the company already reported for the third quarter.

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Sprint expects to its job cuts to be “largely completed” by the end of March 2015.

S data by YCharts

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