A Sprint executive has confirmed that it will be aggressive trimming the fat at the company over the next six months. 

According to Bloomberg, Sprint CFO Tarek Robbiati confirmed that he plans to cut about 10 percent of operating costs to save about $2 billion, as well as $500 million by slashing equipment costs. 

Tarek told Bloomberg Sprint’s cost structure was “bloated.” 

The comments confirm a report by the Wall Street Journal from last week that stated Sprint would be cutting costs, which would include job cuts. Sprint has already enacted a freeze on new hires and has instated a policy that requires all expenses to be approved by the finance department.

In its most recent earnings report, Sprint reported operating income of $501 million on $8 billion in net operating revenues and postpaid net subscriber additions of 310,000 compared to net losses of 181,000 in the prior year quarter. Churn was at an all-time record low for the company at 1.56 percent.

Sprint raised its forecast for fiscal year 2015 adjusted EBITDA from a range of $6.5 billion – $6.9 billion to $7.2 billion – $7.6 billion. That marked a 12 percent increase over prior guidance. 

Sprint early this week said it would bow out of the upcoming 600 MHz acution after concluding that it would be best served by working on its network densification with its existing spectrum portfolio.