BlackBerry (BBRY) Calls for More Layoffs

BlackBerry (BBRY) says it is cutting jobs at offices around the world as it makes changes to its software, hardware and app side of the business.

The Waterloo, Ontario-based company, which reported an almost 17% fall in quarterly revenue in March, said in a statement Saturday that “its intention is to reallocate resources in ways that will best enable [the company] to capitalise on growth opportunities while driving toward sustainable profitability across all facets of [its] business.”

The job cuts will affect people who make the hardware, software and apps for its phones, including such devices as the BlackBerry Bold, Classic and Passport. As Journal reports, the move comes shortly after the struggling smartphone maker announced that it was considering closing its Sweden office.

Blackberry currently employs about 7000 people internationally. About half work in Canada.

The company, once a titan of the smartphone business, didn’t provide additional information about the cuts.

BBRY advanced more than 2% to $10.48 at the close in New York on Friday. The shares have fallen 4.55% year-to-date.

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About Ari Haruni 147 Articles
Ari Haruni is the Co-Founder & CEO of Wall Street Pit.

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