More bad news for KC: 8,000 Sprint layoffs

Sprint Nextel today said the company will layoff 8,000 employees, a move that's likely to include deep cuts in the Kansas City area.

Kansas City currently represents about 15 percent of Sprint's nationwide workforce of 56,000 employees. The company has about 12,000 employees in the Kansas City area.

The No. 3 wireless company said the cuts will save Sprint $1.2 billion a year, and be "largely completed" by March 31.

The 8,000 reductions include 850 positions to be eliminated under a voluntary separation plan.

Sprint said the company also is suspending its 401(k) match for the year, extending a freeze on salary increases and is suspending its tuition reimbursement program.