BlackBerry to lay off as many as 40% of its workers
Last year, BlackBerry lost $646 million as revenue dropped 40% to $11 billion. In the most recent quarter, the company lost 4 million subscribers and reported a loss of $84 million. Another loss is expected when the company reports its latest quarterly earnings next week. This is happening despite the company's launch earlier this year of the new BlackBerry 10 line. Indications are that the phones are not selling well, and on Wednesday morning BlackBerry introduced its first 5 inch model, the BlackBerry Z30.
BlackBerry's board is looking to sell the company, hopefully before November. Despite the larger screen, and improved battery life on the BlackBerry Z30, there is nothing about the phone that makes one think that it might be able to staunch the bleeding at the Canadian handset manufacturer, which is why the job cuts will be necessary.
1. Legnaldo (Posts: 30; Member since: 17 Oct 2011)
I hope the head honchoes took a pay cut before causing more unemployment. Wishful thinking?
2. Droid_X_Doug (Posts: 5528; Member since: 22 Dec 2010)
Why would they want to lower themselves to the level of the unwashed masses they are letting go? The executives have to uphold their standard of living (not mention keep their golden parachutes funded).
Sh*t rolls downhill and what-not.
3. ZeroCide (Posts: 683; Member since: 09 Jan 2013)
The end is Near!!! Will it survive till the end of 2013?
4. suneeboy (Posts: 153; Member since: 02 Oct 2012)
Blackberry 10 took too long to come out. Everyone forgot about them. Now, no one cares. I feel sorry for the folks who will lose their jobs.
5. AfterShock (Posts: 2073; Member since: 02 Nov 2012)
Do it after Xmas/New years.
It's not that far off.
7. Trismegistus (Posts: 32; Member since: 21 Aug 2013)
In spite of my dislike of various Fans clamoring for the demise of another OS, it's enjoyable to watch an actual sinking ship.
8. HASHTAG (unregistered)
With rumors that they're looking to sell soon, a lot of potential customers would be skeptic about purchasing ANY BB smartphone knowing that if they buy it, they may lose support in the near future and be stuck with it, especially if they're locked into a contract.
9. cornerofthemoon (Posts: 505; Member since: 20 Apr 2010)
Sad but inevitable. BB10 was just too late to the party.
10. Glim12808 (Posts: 391; Member since: 26 Oct 2011)
The Z30 had already been officially announced in Malaysia and will be available there first and in Indonesia. I wish I could say otherwise, but I believe the Z30 will not stave off the impending 40% lay off because the phone will have the same faith as the Z10 and Q10. It is essentially a bigger Z10 so unfortunately nothing to get excited about.
The Z30 will compete almost at the same time and in the same price range as the "new" iPhone 5C (more or less the iPhone 5 in a new colorful dress so maybe not so new) and I reckon the people in those 2 countries will be more excited over the iPhone 5C than the Z30.