This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

OVERLAND PARK, Kan. — Sprint has announced it’s laying off 2,000 people after another quarter of massive losses.

Sprint reported a $765 million net loss for the second quarter and it lost nearly a quarter of a million contract subscribers.

The job cuts are part of a cost-reduction strategy and are expected to save an estimated $400 million.