Jun 20
10:14 AM
Tickers: RIMM
Mobile
Research In Motion Reportedly Firing Thousands
BlackBerry Company Needs To Cut $1 Billion In Operating Expenses
By Gary Krakow
We all know that Research in Motion is currently in a major restructuring mode.
As sales continue to wilt and their next-generation BlackBerry smartphone operating system is still in it's early development stages, RIMM needs to do something. And quick.
So, according the Canada's Financial Post, RIMM is cutting jobs. The estimates from 2,000-to-3,000 jobs. One estimate thinks the number may be as high as 6,000 jobs.
Whatever the exact number RIMM has to save an estimated $1 billion (US) in annual operating costs – or 30% of the total.
So far this year, Research In Motion stock has dropped 26%. That number jumps to more than 60% if you count the past 12 months.