Research In Motion Ltd said on Monday it plans to cut about 2,000 jobs, or 11 percent of its workforce



        Mon Jul 25, 2011 8:47am EDTTORONTO (Reuters)

- Research In Motion Ltd said on Monday it plans to cut about 2,000 jobs, or 11 percent of its workforce, detailing cuts that it first announced last month.One analyst said the job cuts were slightly deeper than expected, but were key to RIM's recovery from a slump triggered by stiff competition from Apple Inc and Google Inc."This is not totally unexpected. I think the size of (the cuts) is a little bit bigger than what they were intimating before," said Jefferies & Co analyst Peter Misek. "I think this is obviously realigning the cost structure to a new growth, or sales reality."RIM said one-time charges from the job cuts were not included in its outlook for the second quarter or for the full year, and it would explain the financial impact of the cuts when it reports second quarter results on September 15.The stock, already near multi-year lows, was down as much as 2 percent before the market opened.RIM said the job cuts are "a prudent and necessary step" for its long-term success.The BlackBerry maker also announced a string of changes to executive responsibilities and, in the latest departure, said Chief Operating Officer Don Morrison would retire.Morrison, currently on temporary medical leave, will be leaving after more than 10 years at the company.RIM said when it reported first quarter results last month that it would cut jobs to stay competitive, but it gave no details at the time.It said on Monday that the job cuts bring RIM's headcount to about 17,000 people.RIM's U.S.-listed shares were down 1 percent at $27.60 in trading before the opening bell. That's up slightly from earlier levels.Misek, who has an 'underperform' rating on RIM's stock, said one thing to watch was when RIM would adopt its new QNX operating system."I think the key here, more than ever, is when do their products launch and what kind of reception will they have and most importantly, when will QNX come in. We don't think those answers are here yet," he said.(Reporting by S. John Tilak, Euan Rocha in Toronto, Aftab Ahmed in Bangalore; editing by Janet Guttsman)

Views: 58

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Doc Vega posted a blog post

Regrets That Cling to Me

Talking with my shadow in the nightI know it sounds contriteA vacuum without the lightThe silence…See More
2 hours ago
tjdavis posted a photo
22 hours ago
Doc Vega posted a blog post

Reality Is now Becoming Unhinged

 Let’s take a trip down the modern-day rabbit hole we call everyday news and events, but on a more…See More
yesterday
cheeki kea commented on Sandy's video
Thumbnail

Ghislaine Maxwell & The Secret "Shadow" 9/11 Commission? | John Kiriakou

"You tuber Sabby Sabs sums up and joins dots. Don't miss this one."
yesterday
Doc Vega posted a blog post
Thursday
Burbia commented on TommyD's group The Chuckle Hut
"The Warriors is one of my favorite movies. I couldn't help but laugh at this spoof."
Thursday
Doc Vega posted a photo
Wednesday
Doc Vega commented on Doc Vega's blog post Are the End Times Drawing Near?
"cheeki kea, You might want to see predictions made by Robert Welch in 1957 and 1974 stating that…"
Wednesday
Doc Vega commented on Doc Vega's blog post Are the End Times Drawing Near?
"cheeki kea, good points. We have a world full of twisted allied agendas that seem contradictory,…"
Wednesday
Sandy posted a video

Ghislaine Maxwell & The Secret "Shadow" 9/11 Commission? | John Kiriakou

In this gripping excerpt from the Julien Dorey podcast, former CIA officer and whistleblower John Kiriakou reacts to a leaked email from 2003. The document r...
Mar 3
cheeki kea left a comment for Holyroller
"Greetings to you Holyroller very awesome you've joined up with us all. I know you'll find…"
Mar 3
cheeki kea commented on Doc Vega's blog post Are the End Times Drawing Near?
"Yes it's a sad and sorry situation we see evolving here. On one front and it's a large…"
Mar 3
Doc Vega commented on tjdavis's video
Thumbnail

When the Communists Take Over America!...Famous 1957 Anti-Communist Movie

"I remember this when I was a little seeing it on TV years after it was filmed and it scared me even…"
Mar 3
tjdavis posted a video

When the Communists Take Over America!...Famous 1957 Anti-Communist Movie

Starring Jack Webb and Robert Conrad, this 1957 movie by the United States Armed Forces Information Agency is perhaps the best known anti-communist movie eve...
Mar 2
Doc Vega posted a blog post

Are the End Times Drawing Near?

Are we seeing the gradual fulfillment of the Battle of Armageddon? Think of it. The US and Israel…See More
Mar 2
Holyroller is now a member of 12160 Social Network
Mar 2
tjdavis posted a blog post
Mar 1
Sandy posted photos
Mar 1
Burbia posted a video

Catherine Fitts: Epstein, CIA Black Budget, the Control Grid, and the Banks’ Role in War

Programmable digital currency is the final piece of the global control grid that’s finally snapping into place. Catherine Austin Fitts on how to defeat it. C...
Feb 27
Евеліна posted a status
"цікаво, воно цитатами виділяє, як моє особливе "я""
Feb 27

© 2026   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted