RIM to cut 5,000 jobs
29 June 2012
Blackberry maker Research in Motion (RIM) is to cut 5,000 jobs as it delays the launch of its new phone operating system Blackberry 10.
RIM warned of job losses recently, and announced the cuts after the firm reported a $518m (£334m) net loss in the three months to 2 June. This is compared with a $695m profit in the same period a year earlier.
Revenue in the first quarter dropped 43% to $2.8bn as sales of its Blackberry smartphones fell sharply for a second straight quarter. Shares in RIM have fallen about 70% over the past year.
RIM CEO Thorsten Heins says: “Our first quarter results reflect the market challenges I have outlined since my appointment as CEO at the end of January.
“I am not satisfied with these results and continue to work aggressively with all areas of the organisation and the board to implement meaningful changes to address the challenges, including a thoughtful realignment of resources and honing focus within the company on areas that have the greatest opportunities.”
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