RIM (BlackBerry-maker) warns of operating loss, layoffs to come
Source: AP-Excite
By ROB GILLIES
(AP) In this May 1, 2012 file photo, Thorsten Heins, president and CEO of Research In Motion,...
Full Image
TORONTO (AP) - Struggling BlackBerry-maker Research in Motion warned Tuesday that it will have an operating loss in its current March-June quarter and said there will be significant layoffs this year.
RIM also said in a release that it has hired J.P. Morgan and RBC Capital Markets to help the company evaluate various strategies, including opportunities to partner with other companies and license software as well as other alternatives.
Waterloo, Ontario-based RIM made no mention of a sale of the company but new chief executive Thorsten Heins did not rule it out after RIM's last earnings were released in late March.
"It's a disaster, it's bad," Jefferies analyst Peter Misek said. "The problem is you can't see a path to a sale until you stabilize the business."
FULL story at link.
Read more: http://apnews.excite.com/article/20120530/D9V2M9QG0.html
ELI BOY 1950
(173 posts)RIM will shed 15K jobs...HP will shed 30k jobs...both CEO's are Republicans and have ran for office. These big corporations keep hiring people who can't govern or run companies...and they ask "where are the jobs"?
Very sad
dipsydoodle
(42,239 posts)Presumably if you had the job you could increase sales. How exactly ?
kwassa
(23,340 posts)All the moves made by RIM corporate heads reek of denial about the transformation smartphones have made to the world. They are already dead, supported by only their installed base in government and corporations that is quickly sinking.
I worked for the second largest computer corporation in the world. 120,000 employees around the world. It no longer exists. Digital Equipment Corporation. It also was once state-of-the-art, but the art moved on, and it didn't.
Prometheus Bound
(3,489 posts)I guess it scares even Apple.
kwassa
(23,340 posts)Remember when they ruled the world?
Mosby
(16,316 posts)When he said that ms could lose their market share over a couple quarters.
Those antitrust lawsuits here and in europe seem kind of silly now don't they?
kwassa
(23,340 posts)it was a valid issue at the time.
My wife was interviewed by Joel Klein as part of the suit. She was a policy adviser in the Clinton Whitehouse.
NV Whino
(20,886 posts)Apple moved ahead. Perhaps the day will come for Aplle at some point.
Disclaimer: I have a Blackberry.
cstanleytech
(26,291 posts)Steve Jobs returning is what saved them, hopefully they will remember his lessons but I have my doubts.
kwassa
(23,340 posts)It can't be corporatized. He was a unique and very important player, and he is gone.
Posteritatis
(18,807 posts)(No, seriously, they can't, because my selection of words today is ill-suited to describe something that isn't there.)
Mosby
(16,316 posts)I hope they find new mgmt that can grow the brand.
Psephos
(8,032 posts)It will end the same way.