T-Mobile Announces Layoffs of 5,000 Amid Rising Costs

T-Mobile plans to cut 5,000 jobs, around 7% of its workforce, over the next few weeks.
The layoffs will impact corporate, back-office, and some technology roles to improve efficiency and reduce costs.
T-Mobile cites increased costs to acquire and retain customers in a competitive wireless market as the reason for job cuts.
The company expects to take a $450 million charge in Q3 related to the restructuring and layoffs.
Retail and customer service positions will not be affected, with focus remaining on T-Mobile's core strategies.