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Sprint Nextel

One of the nation's largest telecommunications companies.

Headquarters:
2001 Edmund Halley Dr.
Reston, VA 20191
Employees: 64,600
CEO: Dan Hesse
Stock Symbol: S

Nextel Career Site

Sprint Nextel is one of the nation's largest telecommunications companies, offering local, long distance, high-speed Internet and wireless phone services.

The company had 54 million subscribers at the end of the third quarter of 2007. Sprint announced it would invest $5 billion in developing WiMAX technology that would offer high-speed wireless Internet access across the country.

In October, Gary Forsee was asked to resign as CEO following poor earnings and subscriber losses. Dan Hesse was named the new CEO in December.

Sprint Nextel reported 2006 revenues of $41 billion and net income of $1.32 billion.

Sprint Nextel's corporate headquarters are located in Reston, VA, former Nextel headquarters. The company's operational headquarters are in Overland Park, KS, which is the home of Sprint.

History

Sprint's origins began in 1899 when Cleyson Brown began the Brown Telephone Co. to compete with Bell Telephone. In 1975, Sprint would launch the world's first public data network. In 1986, Sprint began offering long distance service and its famous pin-drop commercials made their debut. In 1996, Sprint would debut the PCS wireless network, the first all-digital nationwide network.

In 1987, entrepreneur Morgan O'Brien founded a company called Fleet Net. Renamed Nextel in 1993, the company rapidly established itself as a nationwide force in the burgeoning world of wireless communications.

In less than year's time, Nextel merged with Dial Call and OneComm, acquired all of Motorola's SMR licenses in the U.S., and received a $1 billion investment from wireless pioneer Craig McCaw. By mid-1995, Nextel was on point to serve all of the nation's top 50 markets.

Armed with nationwide spectrum and presence, Nextel was ready to dramatically demonstrate its genius for innovation. In September 1996, the company introduced Motorola's breakthrough iDEN technology. This marked the first combination of enhanced digital cellular, two-way radio and text/numeric paging in one phone the famed Nextel phone. The national rollout of iDEN service began and the Nextel National Network was introduced in January 1997.

Sprint officially merged with Nextel, a provider of wireless phone services, in 2005 in a $35 billion deal.

Benefits

Medical Plans - Sprint offers a variety of health-care options, so employees can select a plan that best suits their needs. These options include a traditional indemnity plan, SprintIndemnity, with a choice of two benefit levels; a national Preferred Provider Organization (PPO), SprintChoice Healthcare; a national Exclusive Provider Program (EPP), SprintSelect Healthcare, and Health Maintenance Organizations (HMOs) in some locations.

Dental Plan - To encourage regular dental care, employees can choose a low-coverage or high-coverage dental option. Both options cover cleanings, filings and comprehensive dental work, such as crowns and root canals. An orthodontia benefit is included under the high-coverage option.

Vision Plan - Eye exams, contact lenses, or glass lenses and frames are covered under Sprint's quality vision-care services. By selecting a network provider, your family receives care at reduce costs.

Health Care Reimbursement Account - Employees have the opportunity to set aside pre-tax dollars, up to $3,000 a year, through payroll deductions. This set aside amount pays for eligible out-of-pocket health, dental and vision expenses.

Dependent Day Care Reimbursement Account - Sprint helps employees save money on child and elder day-care expenses. Employees simply set aside pre-tax dollars, up to $5,000 a year, through payroll deductions to pays for eligible expenses.

Life Insurance - Coverage up to five times an employee's eligible pay is available to help survivors maintain financial security in the event of death. Sprint also provides dependent life insurance, business travel accident insurance, and accidental death and dismemberment insurance.

Voluntary Benefits - Sprint has negotiated competative rates for non-traditional benefits that surveys indicate employees want most: Auto/Homeowners Insurance, Long-Term Care Insurance, Pet Insurance, and Universal Life Insurance.

Retiree Plans - When employees retire from Sprint, they still receive benefits under the savings, pension and medical plans for retirees. The Sprint Retirement Service Center is dedicated to assisting employees make a smooth transition into an enjoyable retirement.

Discount Program - Employees have access to national and regional discounts through Sprint's discount program called Abilizer. They save on goods and services from more than 200 companies, including Ford, Disney and General Electric. A monthly $30 concession for various Sprint services also is available.

Time Off - Under Sprint's Paid Time Off (PTO) plan, employees have a "bucket" of company-paid hours that they can use at their discretion for doctor visits, parenting commitments, personal business, observing non-company holidays and vacations. The plan gives employees flexibility in scheduling and using paid time away from work. In addition to PTO, employees receive six paid holidays.

Updated December 21, 2007