WASHINGTON: Telecom firm Sprint said it will create 5,000 US jobs over the next 15 months, and pledged Wednesday to work with President-elect Donald Trump to boost the US economy.
Trump first made the announcement at his luxury Florida resort Mar-a-Lago, telling reporters that Sprint called him with the news.
“We just had some very good news,” he said. “Because of what is happening and the spirit and the hope, I was just called by the head people at Sprint and they are going to be bringing 5,000 jobs back to the United States. They have taken them from other countries.”
Sprint, owned mostly by Japan’s SoftBank, which already has announced a commitment to major US investments, released its statement nearly an hour later, clarifying that not all the jobs would come from overseas.
Sprint announced a “commitment to create or bring back to America 5,000 jobs,” although it has no specific plans yet. The company expects to fulfill its commitment by the end of its 2017 fiscal year, which ends in March 2018.
“We are excited to work with President-elect Trump and his administration to do our part to drive economic growth and create jobs in the US,” Sprint CEO Marcelo Claure said in a statement.
“We believe it is critical for business and government to partner together to create more job opportunities in the US and ensure prosperity for all Americans.”
The Sprint announcement gave Trump another chance to claim credit for job creation, and he referenced the Dec. 19 announcement by satellite broadband firm OneWeb for 3,000 jobs over the next four years.
Those jobs are as a result of a $1.2 billion investment from SoftBank, whose chief executive Masayoshi Son met Trump earlier this month and pledged to invest $50 billion in the US economy and create 50,000 jobs.
In 2013, SoftBank paid $22 billion for 80 percent of Sprint.
“That’s a new company. And it was done through Masa. A terrific guy,” Trump said. “We appreciate it.”
Sprint said it will “begin discussions immediately with its business partners, states and cities to determine the right locations in the US to create these jobs.”
Sprint, which announced 2,500 layoffs in January, mostly in customer care, said it expects the new jobs “will support a variety of functions across the organization, including its customer care and sales teams.”
Sprint to create 5,000 US jobs, pledges to work with Trump
Sprint to create 5,000 US jobs, pledges to work with Trump
Closing Bell: Saudi main index closes higher at 10,596
RIYADH: Saudi equities closed higher on Tuesday, with the Tadawul All Share Index rising 43.59 points, or 0.41 percent, to finish at 10,595.85, supported by broad-based buying and strength in select mid-cap stocks.
Market breadth was firmly positive, with 170 stocks advancing against 90 decliners, while trading activity saw 161.96 million shares change hands, generating a total value of SR3.39 billion.
Meanwhile, the MT30 Index closed higher, gaining 6.52 points, or 0.47 percent, to 1,399.11, while the Nomu Parallel Market Index edged marginally lower, slipping 3.33 points, or 0.01 percent, to 23,267.77.
Among the session’s top gainers, Al Masar Al Shamil Education Co. surged 9.99 percent to close at SR26.20, while Saudi Cable Co. jumped 9.98 percent to SR147.70.
Cherry Trading Co. rose 4.18 percent to SR25.44, and United Carton Industries Co. advanced 4.09 percent to SR26.46.
Al Yamamah Steel Industries Co. also posted solid gains, climbing 4.07 percent to end at SR32.70.
On the downside, Emaar The Economic City led losses, slipping 3.55 percent to SR10.32, followed by Derayah REIT Fund, which fell 2.92 percent to SR5.31.
Derayah Financial Co. declined 2.13 percent to SR26.62, while United International Holding Co. retreated 1.96 percent to SR155.20, and Gulf Union Alahlia Cooperative Insurance Co. eased 1.92 percent to SR10.70.
On the announcements front, Red Sea International Co. said it signed a SR202.8 million contract with Webuild S.P.A. to provide integrated facilities management services for the Trojena project at Neom.
The agreement covers operations and maintenance for the project’s Main Camp and Spike Camp, including accommodation and housekeeping, catering, security, IT and communications, utilities, waste management, fire safety and emergency response, as well as other supporting services.
The contract runs for two years, with the financial impact expected to begin in the first quarter of 2026. Shares of Red Sea International closed up 0.99 percent at SR34.74.
Al Moammar Information Systems Co. disclosed that it received an award notification from Humain to design and build a data center dedicated to artificial intelligence technologies, with a total value exceeding 155 percent of the company’s 2024 revenue, inclusive of VAT.
The contract is expected to be formally signed in February 2026, underscoring the scale of the project and its potential impact on the company’s future revenues.
MIS shares ended the session 2.82 percent higher at SR156.70, reflecting positive investor sentiment following the announcement.
