BlackBerry (BBRY) to Cut 40 Percent of Its Workforce, Reports $1 Billion Loss



As thousands
line up for Apple’s brand new iPhone today, BlackBerry, once a leading
mobile phone company, announced that
it will lay off over 4,500 employees or 40
percent of its workforce.

After reporting a surprise billion-dollar
second-quarter loss, the company’s stock fell more than 20 percent. Blackberry
said in a statement it expects to report quarterly revenue of $1.6 billion
compared with $3.04 billion that was expected. 
“The latest new from Blackberry is yet another
indication that the company desperately needs to find a new owner, the only
hope for a turnaround,” Patrick Moorhead, founder and principal analyst of
Moorhead Insights, told ABC News. “They were late with mobile touch, a
modern mobile operating system and an app store, and don’t have the cash or the
time to go after it alone.” 
The news, which was reported earlier this week by the
Wall Street Journal, comes after a series of bad quarters for the company.
While the company released its the new 5-inch Z30 smartphone this week and its
new BlackBerry 10 operating system in January, it has been struggling to keep
pace with other phone makers. In the last
quarter the company only shipped 2.7 million of its new BlackBerry 10
devices. Contrast that with Apple, which analysts expect could sell six million
iPhones just this weekend. 
The
Wall Street Journal also reported last month that Blackberry’s board was
looking at alternatives for the company by November, including a possible sale.
BlackBerry plans to release its once-popular BlackBerry Messenger or BBM for
the iPhone and Android this weekend. 

More News
Updates coming up. To avoid missing out Like our FACEBOOK PAGE and follow us on TWITTER.
Share
this post and don’t forget to leave your comment and remark in the comment box
below.

Read more: abcnews

Want Latest Controversial News? Download the Linjust app for Android Phones.


ADS

Do you suspect your loved one is cheating on you ? Find out with this amazing app.Records all calls, text messages, surroundings of the phone even when not on a call and more.

Looking For a Well-Paid Job? Start working as a Movie Extra & Earn up to $300/day 

YOUR AMERICAN DREAM IS IN YOUR HANDS. 50,000 People and their families wins the GREEN CARD lottery every year.2017 REGISTRATION HAS STARTED! CLICK HERE to Submit your green card application today!

Study in USA with an official American Green Card. CLICK HERE

Enjoy sex again, save your marriage, all thanks to Gods gift! [United states only]

Teeth Whitening system can deliver whitening results similar to those you’ll get when you pay hundreds or even thousands of dollars at the dentist.[This Offer is available only for UK]


Like it? Share with your friends!

Leave a Reply

Your email address will not be published. Required fields are marked *

log in

reset password

Back to
log in