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Sprint’s workforce will be hit hard in the first quarter as the telecom business faces tough economic times and plans to cut layoff as many as 8,000 employees. That’s not the only bad news as it would also be suspending its 401K match for the current year. Although this would initially cost the company as much as $300 million in payoffs etc, but will save it more than $1.2 billion. With this, Sprint joins Microsoft and Sun Microsystems make massive job cuts early this year