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11/02/2024 11:26:44 am

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Sprint CEO Cuts Costs as Company Attempts to Win Back Subscribers

Sprint CEO Marcelo Claure said the company will implement a long list of "nice to have" items that also include trimming the cost of its services to gain more customers.

"We've got to be fast, we've got to be flexible, we've got to be nimble," he said Thursday at the Goldman Sachs Communacopia Conference. Claure, however, didn't specify where the company plans to make the cuts.

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Since being appointed CEO of the company a little more than a month ago, Claure said he intends on "getting [Sprint] back in the game" and retake the millions of subscribers the company had lost in the recent years when it underwent an expensive network overhaul.

Claure, the former boss of wireless supplier Brightstar, aims to do just that by reducing both Sprint's expenses and the prices of the services it offers. Sprint's management, he said, is currently tracking every cent it spends and is handling a wide review of the company's practices.

Claure didn't reveal by how much his company has been stumbling. He said Sprint's phone plans were confusing; its services more costly than its rivals; its network was worse and its marketing strategy involved a talking hamster.

He believes Sprint is spread out too thinly, competing in too many markets and losing money while it's at it.

"As of a month ago, we stood nowhere," he said. "There was no reason customers should be buying a phone from Sprint."

Claure said he aims to rebrand the company into a value player, pitting it with rivals such as T-Mobile directly. He'll also focus on upgrading Sprint's 2.5 gigahertz LTE network.

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