Sprint Nextel Corp. has agreed to pay up to $5 billion the next seven years to TelTeLM Ericsson Telephone Co., turning over day-to-day operations of its network to the Swedish telecommunications company as Sprint looks to focus on new products and customer retention, according to the Wall Street Journal. Sprint commented that as a result of this deal about 6,000 Sprint employees will start performing their network functions as Ericsson employees sometime in the third quarter.
Could this be a good thing for Sprint employees? Just 10% of Ericsson employees disapprove of the job CEO Carl-Henric Svanberg is doing compared to the nearly 25% of Sprint employees who disapprove of CEO Dan Hesse, so perhaps this switch could be a good thing in the long run.
Glassdoor Report: Ericsson & Sprint
CEO Approval Rating (%)