Cutbacks Starting At RIM: More Trouble For BlackBerry Maker
Cutbacks at Waterloo, Ontario-based Research In Motion have already been set into motion. A local newspaper, the Waterloo Region Record reported layoffs have indeed started at Research In Motion (BlackBerry). The exact number of employees facing unemployment has yet to be confirmed.
Layoffs seemed inevitable as the world witnessed recent RIM troubles stemming from delayed device launches, missed market expectations, and investors jumping ship. Meanwhile, shares of RIM stock have plummeted 25% since news of their reported low earnings last week, and are down 50% for the entire year.
We hate to hear of anyone losing their jobs in today’s economic climate. Our hope is that RIM can utilize their internal resources to intelligently turn their troubles around. As RIM is an integral part of today’s mobile device market, let’s hope for innovation and competition’s sake they can find a solution and fast.
