You might wanna find a new phone company

And dump their stock too. Sprint Nextel to cut jobs, close stores.

Sprint Nextel Corp.'s stock plunged Friday, Jan. 18th, after the wireless carrier said it will cut 4,000 jobs and close 125 retail locations in response to a steep drop in its customer base. In addition to the layoffs and store closings, Sprint plans to shut down 4,000 of its 20,000 third-party distribution points, such as stalls inside consumer-electronics retailers, and reduce its use of contractors and outsourced services. Sprint's shares dropped 24.81 percent Friday to close at $8.70.

Gee. I wonder what caused that? Subscriber trends continue to batter Sprint.

During all of 2007, when AT&T, Verizon Wireless and T-MobileUSA added a total of 17.7 million subscribers, Sprint added only 772,000. When counting only customers on monthly calling contracts, Sprint lost 1.2 million subscribers during the year.

Maybe it's because your service sux!!

And now the bad news. Sprint warns of multibillion-dollar write-off.
OVERLAND PARK, Kan. (AP) — Sprint Nextel (S), the nation's third-largest wireless provider, said Thursday it may have to write off up to $31 billion in value. Sprint Nextel said a write-down wouldn't affect the company's cash balance or future cash flows or leave the company in danger of violating its debt covenants.

(did they just say that with a straight face?)