T-Mobile’s decision to lay off nearly 5,000 employees will impact 401 workers in Bellevue, Wash. CEO Mike Sievert last week announced the cuts in a memo to employees. The details about Seattle-area layoffs come from a filing with the state Employment Security Department (ESD).
- Sievert said the cuts would impact jobs that are duplicative or positions that don’t align with changing company priorities. He named increasing costs for customer acquisition and retention as contributing factors.
- The layoffs are targeting corporate and back-office roles, and some tech positions. Retail and consumer care jobs are not affected.
- T-Mobile reported $19.2 billion in revenue for the second quarter of 2023, down 2.2% year-over-year. It beat analyst expectations for customer additions and churn. The company also announced it bought back $3.5 billion in common stock in the quarter.
- At the end of last year, T-Mobile employed 71,000 people — a reduction of about 9,000 jobs following the merger with Sprint in early 2020 — despite promises to create more jobs out of the joining of the companies. The layoffs further erode the headcount.
