More old regime BlackBerry executives fired
New CEO John Chen took over for Thorsten Heins early this month when the company's privatization deal with its largest stockholder failed to get financing. BlackBerry settled for a $1 billion infusion via the sale of convertible debt. Chen said in a statement on Monday that BlackBerry still has a strong cash position. But as the new management group takes over, it is not unusual to see those associated with the failure of the previous regime lose their jobs.
As we told you last week, BlackBerry's next earnings report is scheduled to be released on the morning of December 20th. Since the last report for the second quarter included a massive $930 million to $950 million write down of BlackBerry Z10 inventory, it should be interesting to see what BlackBerry reports for the period.
source: BlackBerry via ReadWrite, IntoMobile
1. JakeLee (Posts: 372; Member since: 02 Nov 2013)
Shutting down the company ASAP will be the best for everyone.
3. tatail (Posts: 63; Member since: 08 Jan 2010)
Are you saying you will hire 5000+ employees when they lose their jobs?
8. downphoenix (Posts: 2142; Member since: 19 Jun 2010)
and where do you propose these high tech jobs will be filled at?
2. Finalflash (Posts: 929; Member since: 23 Jul 2013)
I don't know why they keep going on and on about their strong cash position. Tell us something else that is good because your cash position won't be strong for long. Just because you have cash doesn't mean you will survive, bigger fish have fallen with bigger reserves. They need to update their followers with the direction of their company with an actual plan, not "we plan to live, and we have strong cash position".
5. Droid_X_Doug (Posts: 5168; Member since: 22 Dec 2010)
As you observe, without sales, the cash position dissolves with ongoing operating expenses.
At least an attempt is being made to clear out the remnants of the old team who were so successful in driving the company into the ground. But net-net, BB is going to have to come up with a new business model. Otherwise, it is over.
4. kennyblack_sd (Posts: 26; Member since: 15 Nov 2013)
Hmmm, I believe things will get better after this tough decision. I still love my Q5 no matter what the report is on 20th of Dec. I will always stay true to my brand no matter how many bad news about BlackBerry on phoneArena
6. BillyG (Posts: 304; Member since: 24 Sep 2012)
good for you, hopefully you and 10 other Q5 users can help bb raise from its death...
7. victory_zhou (Posts: 37; Member since: 03 Oct 2013)
So do I I still love my q10 than any other phone although it don't have the best spec but it work very extremely well with BlackBerry 10 os
9. digicon (Posts: 107; Member since: 11 Aug 2011)
Good article of non-biased reporting . . . Even trying to cover your tracks with your reference to your last backhanded BlackBerry post . . .