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NEW YORK (Reuters) - Sprint Nextel, the No. 3 U.S. mobile service, said on Friday it would cut about 4,000 jobs within the company, close 125 stores and reduce its use of outsourced services to improve its financial performance.
Sprint expects the measures to trim labor costs by an annual rate of $700 million to $800 million by the end of 2008.
The company said it would eliminate more than 4,000 sales outlets within retailers. Sprint has about 20,000 total distribution points, including some 1,400 of its own retail stores.
(Reporting by Michele Gershberg; Editing by Derek Caney)
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