Overland Park ? Sprint Corp. on Wednesday said its plan to consolidate operations would cut costs 5 to 7 percent during the next three years, saving the company about $2 billion a year.

Overland Park-based Sprint is in the process of reorganizing its operations around two market segments: business and residential customers.

The telecommunications firm currently is organized according to products: local telephone services, long-distance voice and data services, and wireless.

Through consolidation, Sprint said it hoped to eliminate redundant jobs and automate others. It did not say how many people might be laid off as part of the transformation.

In the past two years, Sprint has laid off about 18,000 people.

“The revenue goal of the transformation effort is to grow faster than the competition,” Gary D. Forsee, Sprint chairman, said in a statement.

Forsee said Sprint hoped to acquire new customers and sell more products to its current base of more than 26 million customers.