November 07. 2012 11:00AM - Last modified: November 07. 2012 11:59AM

U.S. Cellular drops Chicago, cuts 640 local jobs

U.S. Cellular will sell markets including Chicago to units of Sprint Nextel Corp. for $480 million.

The move will result in 980 job cuts at U.S. Cellular, with 640 in the Chicago area, according to a spokeswoman. The cuts are slightly under 12 percent of the approximately 8,400 total employees U.S. Cellular had at the end of the third quarter.

The company plans to keep its headquarters in Chicago

Read more in Crain's Chicago Business.