Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Toronto Stock Exchange  >  BlackBerry Ltd    BB   CA09228F1036

SummaryChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Canada's RIM to cut at least 2000 jobs

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/26/2012 | 05:09pm CET

Research In Motion Ltd (>> Research In Motion) is preparing for a major restructuring beginning in the next couple of weeks that will see it eliminate at least 2,000 jobs worldwide, the Globe and Mail reported on Saturday, citing unnamed sources.

Research In Motion Ltd (>> Research In Motion) is preparing for a major restructuring beginning in the next couple of weeks that will see it eliminate at least 2,000 jobs worldwide, the Globe and Mail reported on Saturday, citing unnamed sources.

The Canadian newspaper, citing several people close to the company, reported that the next round is layoffs is said to be planned for around June 1 - a day before the BlackBerry smartphone maker's first quarter ends - but some expect the announcement even earlier.

One source close to the company told Reuters the impending layoffs could hit as many as 6,000 people and affect RIM's legal, marketing, sales, operations, and human resources divisions.

"The strategic question is: are you accelerating into a better future or shrinking to a niche operation," said the source, who declined to be identified due to the sensitive nature of the job cuts.

A RIM spokeswoman contacted by Reuters declined to comment on the report.

But she pointed to comments that new Chief Executive Thorsten Heins and Chief Financial Officer Brian Bidulka made on RIM's last earnings call about plans to streamline operations and save $1 billion in the fiscal year.

The spokeswoman said RIM now has about 16,500 staff globally. This is down from a peak closer to 20,000.

RIM reported a fourth-quarter loss in March, when the new CEO announced the initial steps in a strategic overhaul. Heins took over from longtime co-CEOs Mike Lazaridis and Jim Balsillie in January.

Once the dominant player in the wireless e-mail sector, RIM has lost market share due to fierce competition from Apple Inc's (>> Apple Inc.) iPhone and phones running on Google Inc's (>> Google Inc) Android software.

RIM has already been through one round of restructuring. Last July it announced plans to cut about 11 percent of its workforce, or 2,000 jobs.

A string of high-level employees have departed RIM recently, including global head of sales Patrick Spence, who was set to take a senior job at audio company Sonos.

Several sources close to the company told Reuters RIM had been letting more junior staff go for several months in what has come to be known internally as 'Goodbye Thursdays,' because the cuts typically occurred on that day of the week.

The job cuts have failed to boost the company's stock. On Thursday RIM shares hit a multi-year low of C$10.87 on the Toronto Stock Exchange. The stock changed hands for more than C$150 in 2008.

(Additional reporting by Jeffrey Hodgson; editing by Christopher Wilson)

By Alastair Sharp

Stocks treated in this article : Apple Inc., Google Inc, Research In Motion
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BLACKBERRY LTD
12/08DJBlackBerry Announces Upgrade to Mobile-Security Software
12/08 BLACKBERRY : Unveils Comprehensive Mobile-Security Platform for the Enterprise o..
12/06 BLACKBERRY : to Announce Third Quarter Fiscal 2017 Results on Tuesday December 2..
12/06 SECURE, PROTECTED, AND CONNECTED : BlackBerry 10 Passes the NIAP Government-Grad..
12/01 BLACKBERRY : Spreading Some Holiday Cheer with Our Latest Android Software Updat..
12/01 BLACKBERRY : With DTEK60’s Fingerprint Sensor, Better Security and Privacy..
12/01 BLACKBERRY : The City Council of Rosny-Sous-Bois Selects BlackBerry's AtHoc Soft..
12/01 BLACKBERRY : Appoints Former U.S. Coast Guard CIO to Lead Forthcoming Federal Cy..
11/25 BLACKBERRY : Awarded New Cybersecurity Certification by the UK Government
11/23 BLACKBERRY : Enterprise Developers Get Hands-On at BlackBerry Developer Summit
More news
Sector news : Wireless Telecommunications Services - NEC
02:32pDJVODAFONE : For Vodafone, Being No. 2 Could Be Best
02:29pDJVODAFONE : For Vodafone, Being No. 2 Could Be Best
01:15pDJVODAFONE : For Vodafone, Being No. 2 Could Be Best
12/08 DuPont CEO Breen says Trump win unlikely to impact Dow deal
12/08DJAT&T : Lawmakers Voice Concerns Over AT&T Deal for Time Warner -- 5th Update
More sector news : Wireless Telecommunications Services - NEC
News from SeekingAlpha
12/08 This Is A Good Time To Get Out Of The Smartphone Space In General, And Apple ..
12/06 BLACKBERRY'S REBUTTAL ANSWERED : Samsung Deal Spells Doom For The Company
12/05 Leaked pics of BlackBerry's last smartphone
11/30 BLACKBERRY 10 : Is The End Near?
11/29 BLACKBERRY : A Glimpse To The Future
Advertisement
Financials ($)
Sales 2017 1 523 M
EBIT 2017 11,6 M
Net income 2017 -1 115 M
Finance 2017 688 M
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018
EV / Sales 2017 2,25x
EV / Sales 2018 2,76x
Capitalization 4 114 M
More Financials
Chart BLACKBERRY LTD
Duration : Period :
BlackBerry Ltd Technical Analysis Chart | BB | CA09228F1036 | 4-Traders
Full-screen chart
Technical analysis trends BLACKBERRY LTD
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 33
Average target price 7,98 $
Spread / Average Target 2,2%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
John S. Chen Executive Chairman, President & CEO
Marty J. Beard Chief Operating Officer
Steven M. Capelli Chief Financial Officer
Iain S. Kennedy Chief Information Officer
Barbara G. Stymiest Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
BLACKBERRY LTD-18.85%4 114
AT&T INC.17.35%247 974
CHINA MOBILE LTD.-4.07%219 856
NTT DOCOMO INC5.95%89 261
SOFTBANK GROUP CORP29.34%74 680
VODAFONE GROUP PLC-10.23%66 108
More Results