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
Silver crosses $77 mark while gold, platinum stretch record highs
- Spot silver touched an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits
- Spot platinum rose 9.8% to $2,437.72 per ounce, while palladium surged 14 percent to $1,927.81, its highest level in over 3 years
Silver breached the $77 mark for the first time on Friday, while gold and platinum hit record highs, buoyed by expectations of US Federal Reserve rate cuts and geopolitical tensions that fueled safe-haven demand.
Spot silver jumped 7.5% to $77.30 per ounce, as of 1:53 p.m. ET (1853 GMT), after touching an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits, its designation as a US critical mineral, and strong investment inflows.
Spot gold was up 1.2% at $4,531.41 per ounce, after hitting a record $4,549.71 earlier. US gold futures for February delivery settled 1.1% higher at $4,552.70.
“Expectations for further Fed easing in 2026, a weak dollar and heightened geopolitical tensions are driving volatility in thin markets. While there is some risk of profit-taking before the year-end, the trend remains strong,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.
Markets are anticipating two rate cuts in 2026, with the first likely around mid-year amid speculation that US President Donald Trump could name a dovish Fed chair, reinforcing expectations for a more accommodative monetary stance.
The US dollar index was on track for a weekly decline, enhancing the appeal of dollar-priced gold for overseas buyers.
On the geopolitical front, the US carried out airstrikes against Daesh militants in northwest Nigeria, Trump said on Thursday.
“$80 in silver is within reach by year-end. For gold, the next objective is $4,686.61, with $5,000 likely in the first half of next year,” Grant added.
Gold remains poised for its strongest annual gain since 1979, underpinned by Fed policy easing, central bank purchases, ETF inflows, and ongoing de-dollarization trends.
On the physical demand side, gold discounts in India widened to their highest in more than six months this week as a relentless price rally curbed retail buying, while discounts in China narrowed sharply from last week’s five-year highs.
Elsewhere, spot platinum rose 9.8% to $2,437.72 per ounce, having earlier hit a record high of $2,454.12 while palladium surged 14% to $1,927.81, its highest level in more than three years.
All precious metals logged weekly gains, with platinum recording its strongest weekly rise on record.
