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.