NEW YORK (TheStreet) -- Shares of BlackBerry Ltd. (BBRY) are higher by 4.15% to $9.53 in mid-morning trading on Tuesday, after the company completed its restructuring process, according to an internal memo viewed by Reuters.
The wireless solutions and communications company issued the memo on Friday, notifying employees that the restructuring process is "now behind us."
Blackberry's restructuring process took three years and over that time its workforce declined by 60%.
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Blackberry CEO John Chen has been at the head of the company for almost eight months and worked quickly to regain Blackberry's stability by selling non-core assets, selling the company's real estate holdings in Waterloo, Ontario, and making Blackberry's manufacturing and supply chain more efficient, Reuters reports.
The memo also said Blackberry is in a position to make acquisitions in order to reinforce specific areas and accelerate revenue growth.
Separately, TheStreet Ratings team rates BLACKBERRY LTD as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate BLACKBERRY LTD (BBRY) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, disappointing return on equity and weak operating cash flow."