On January 16, 2008, the Board of Directors of Sprint Nextel Corporation (the "Company"), in response to anticipated continued pressure on subscriber trends, revenues and profitability in 2008, approved actions to streamline the Company's business and reduce operating costs through (i) a workforce reduction of approximately 4,000 internal positions and reduced utilization of outsourced services and contractors and (ii) the elimination of more than 4,000 third-party distribution points and approximately 125 company-owned retail locations. The employee headcount reductions are expected to be substantially completed in the first half of the year and will include management and non-management positions throughout the Company.

The Company expects to record an accounting charge of approximately $200 million for severance and related costs associated with the workforce reduction, primarily determined based on an existing severance plan. Substantially all of the above estimated charge is expected to result in cash expenditures during 2008.

The Company also expects to record a charge for exit and other costs associated with the elimination of distribution points and retail locations, but at this time is unable to estimate the costs expected to be incurred and whether these costs are material. If material, the Company will disclose costs related to these actions promptly after they are determined.

A copy of the press release announcing these actions is furnished as Exhibit 99.1 to this Form 8-K.

On January 18, 2008, the Company announced its subscriber base declined by approximately 109,000 subscribers and post-paid churn of 2.3% for the fourth quarter 2007.

As reported in the Company's Form 10-Q for the period ended September 30, 2007, the Company is currently performing its annual assessment of goodwill and indefinite lived intangible assets for impairment. Given current market conditions, particularly the recent decrease in the Company's stock price, the Company could incur a non-cash impairment charge associated with its goodwill in the fourth quarter 2007.

A copy of the press release announcing this information is furnished as Exhibit 99.1 to this Form 8-K.

(d) Exhibits

The following exhibits are filed with this report:

Exhibit No.          Description

99.1                 Press Release Announcing Fourth Quarter Subscriber
                     Results and Actions to Streamline Operations