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Submission + - BlackBerry Confirms 4,500 Job Cuts, Warns of $950 Million Loss (reuters.com)

An anonymous reader writes: Today BlackBerry announced that it expects its quarterly net operating losses to be somewhere between $950 million and $995 million. It also confirmed earlier reports that it would be cutting 4,500 jobs, roughly 40% of its total workforce. 'The loss is mainly the result of a write-off of unsold BlackBerry phones, as well as $72 million in restructuring charges. The company said that it would discontinue two of the six phones it currently offers.' According to the press release BlackBerry is going to 'refocus on enterprise and prosumer market.' 'The failure of the BlackBerry 10 line of phones quickly led to speculation that the company, like Palm before it, would be broken apart and perhaps gradually disappear, at best lingering as little more than a brand name.'

Submission + - BlackBerry Says It Will Cut 40% of Workforce, Revenues to Plummet

Dawn Kawamoto writes: BlackBerry dealt a blow to its employees and investors Friday, announcing it would slash 40 percent of its workforce, with its revenues expected to fall by roughly half the level they were a year ago. The rumor mill was going fast and furious earlier this week with speculation of a 40% cut that has now turned out to be true. The company's Z10 is far from the silver bullet to turn its fortunes around. And with $2.6 billion in the bank with cash and short-term securities, it's quickly running out of time to find a buyer.

Comment Pride (Score 5, Insightful) 139

Proverbs 16:18: Pride goeth before destruction, and an haughty spirit before a fall. This was BlackBerry's issue - they thought they were the king, and that they didn't need to listen to the market. "You don't need a camera. That's crazy talk", "Nobody will accept a touch keyboard", "No other devices will gain corporate acceptance", "Employers will always make the choice for employees" etc etc. It's been one long "we know what you want better than you do" at BlackBerry.

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