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Purveyor

(29,876 posts) Fri Sep 20, 2013, 03:57 PM Sep 2013

BlackBerry To Slash 4,500 Jobs In Restructuring

Source: CNBC

Published: Friday, 20 Sep 2013 | 3:36 PM ET

BlackBerry said Friday it will slash 4,500 jobs, or above 40 percent of its workforce, as part of a restructuring and announced preliminary earnings and revenue that fell short of Wall Street's estimates.

As part of the massive restructuring, the struggling company said it targets reduction of its operating expenditures by approximately 50 percent by end of the first quarter in fiscal 2015.

Trading in shares of BlackBerry had been halted due to "news pending" on both Nasdaq and the Toronto Stock Exchange.

In the minutes after trading resumed at 3:35 pm ET, the shares plunged as much as 23 percent to $8.06, before bouncing back a bit from its low.

Read more: http://www.cnbc.com/id/101031117

4 replies

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BlackBerry To Slash 4,500 Jobs In Restructuring (Original Post) Purveyor Sep 2013 OP

The writing has been on the wall awhile. MrNJ Sep 2013 #1

One thing could save their bacon, and they won't do it jmowreader Sep 2013 #2

Restructuring for a buyout? Texano78704 Sep 2013 #3

The end is near Faygo Kid Sep 2013 #4

MrNJ

(200 posts)

1. The writing has been on the wall awhile.

Reply to Purveyor (Original post)

Fri Sep 20, 2013, 04:21 PM

Sep 2013

Anybody working there and not looking for a new job is playing russian roulette

jmowreader

(50,562 posts)

2. One thing could save their bacon, and they won't do it

Reply to Purveyor (Original post)

Fri Sep 20, 2013, 04:47 PM

Sep 2013

Start making Android phones. The devices they're making right now are nice enough; availability of apps is what's kicking their asses. Since they can't make iOS devices - no one except Apple can - Android is their only choice.

Texano78704

(309 posts)

3. Restructuring for a buyout?

Reply to Purveyor (Original post)

Fri Sep 20, 2013, 05:58 PM

Sep 2013

Sounds like it.

Faygo Kid

(21,478 posts)

4. The end is near

Reply to Purveyor (Original post)

Fri Sep 20, 2013, 06:17 PM

Sep 2013

I have a BlackBerry, through work. I'm sure they are considering the next purchases, because BlackBerry is finished. Remember when it was cutting edge? So was America On Line at one time.

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