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 blog posts
17 hours ago
Doc Vega commented on Doc Vega's blog post A Few More Rats in Your Skull Concerning Charlie and the Rampaging Left
"cheeki kea, Yes that was released on to book sites 19 hours before the tragic event and also there…"
20 hours ago
Burbia commented on Sandy's video
yesterday
Sandy posted a video

Charlie Kirk Was Terrified Of Israel

Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube.
yesterday
Sandy posted a photo
yesterday
cheeki kea commented on Doc Vega's blog post A Few More Rats in Your Skull Concerning Charlie and the Rampaging Left
"The internet is fractioned that's for sure but it never sleeps and the big question of the day…"
yesterday
Burbia commented on Doc Vega's blog post A Few More Rats in Your Skull Concerning Charlie and the Rampaging Left
"It seems America has many meanings to many people. The internet has fractioned everybody. I had…"
yesterday
Doc Vega commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"Cheeki kea I'm glad that the giant Moa downsized to this turkey looking land walker.!"
yesterday
Burbia commented on Burbia's blog post Charlie Kirk Assaination
"I don't know what difference if any that he was also a member of Council for National Policy.…"
yesterday
Doc Vega commented on Burbia's blog post Charlie Kirk Assaination
"I remember when they found out that the united Council of Churches worldwide had been funding…"
yesterday
Doc Vega posted a blog post

A Few More Rats in Your Skull Concerning Charlie and the Rampaging Left

 Political violence and death has been perpetrated for a long time now in America. The Democrats…See More
yesterday
Burbia posted a blog post

Charlie Kirk Assaination

September 10th 2025 in Utah Turning Point USA CEO has been assassinated. Coincidentally,  answering…See More
Thursday
Doc Vega posted a blog post

Bow to Your New Masters

 Dr. Jerome Corsi reports that the discovery of a new wireless system that can corrupt any…See More
Tuesday
cheeki kea commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"Wow I never knew penguins got down sized also over time. I knew of the Moa which is really now a…"
Tuesday
Sandy posted a video

Civalyze meme

meme ad for a fake drug that would do away with black fatiguecivilyze you're not racist your just exhausted
Monday
Burbia posted a blog post

Is the Timing of Alex Jones and Charlie Sheen Connected?

Alex Jones is sperging out.Charlie Sheen is coming out of the closet.Is this why Alex Jones is…See More
Sep 6
Doc Vega posted a blog post

Buying the Last haunted House on the Left (A partial autobiography)

Note to the reader, there are events here that are true and some that are fictional.Chapter IIt was…See More
Sep 5
Doc Vega posted a blog post

In Memory of Those Who Served

 Bullets flew and ricochetedI was on that hill todayMy Company commander got blown awayI was on…See More
Sep 4
Doc Vega posted blog posts
Sep 2
Doc Vega commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"cheeki kea I was wrong Emperor Penguins are big and powerful but still alive but this,  A size…"
Sep 2

© 2025   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