While Sprint maintains their position as the third largest carrier in the U.S., they announced on Friday that they will be laying off an unspecified number of management and nonmanagement jobs this month in efforts to further reduce costs.

According to the WSJ, referencing a filing with the Securities and Exchange Commission, the reduction of employees will result in a charge of approximately $160 million on the company's September quarter for severance pay and related costs.

This news follows a similar announcement made back in January where Sprint then took a $165 million charge for an unspecified number of job cuts.

Source: WSJ