T-Mobile US to cut 5,000 jobs

T-Mobile US plans to cut nearly 5,000 jobs, or about 7% of its workforce, in the United States, the telecom giant said on Thursday, as it grapples with higher customer acquisition costs.

The jobs cuts will be made in the next five weeks and will target corporate and back-office roles, and some technology jobs, CEO Mike Sievert said in an email to employees.

Retail and consumer care divisions will not be impacted, it added.

The company expects to incur a pre-tax charge of about $450 million in the third quarter.

Shares of the company were down about 0.4% in early trading.