After a dismal few weeks, Sprint (S) moved up the FQ3 earnings reporting date to address market speculation. According to Bloomberg, the domestic wireless provider was scheduled to report earnings a week later and will now release the numbers next Tues. The stock hit a low of $2.34 on Wednesday due to concerns over the plan to switch cell towers to cheaper options on government land. At the same time, Sprint plans to cut thousands of jobs in order to cut up to $2 billion in fixed costs. Can the company do anything but cut costs? The current problems with Sprint stem from a hiring the new CEO over a year ago that famously built up a previous business that began from selling cellphones out of a trunk. Unfortunately, iPhone users aren't looking for the cheapest service. At the same time, competing against Verizon (VZ) and AT&T (T) is nearly impossible while reducing the workforce. During this time T-Mobile (TMUS) has aggressively promoted new services and has a CEO that has effectively taken on the duopoly in the industry. Sprint probably bounces from here, but the stock isn't a long-term investment until the company learns what consumers want. Disclosure: No position mentioned