T-Mobile US, Inc (NASDAQ:TMUS) disclosed plans to downsize its workforce by just under 7% or 5,000 positions.

The company reiterated the FY23 guidance it previously issued.

The corporate, back-office, and technology sectors will reflect most of the restructuring. The frontline retail and consumer care teams will remain unaffected. The roles affected are largely redundant.

The company looks to centralize some functions to boost efficiency, cut costs, and create broader managerial positions for extended growth prospects. 

The company expects fiscal year 2023 postpaid net customer additions of 5.6 million - 5.9 million, core adjusted EBITDA of $28.9 billion — $29.2 billion, merger synergies of $7.5 billion, and adjusted free cash flow of $13.2 billion — $13.6 billion.

Price Action: TMUS shares traded lower by 0.74% at $135.34 on the last check Thursday.

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