TechHive: BlackBerry cuts 4500 jobs, loses nearly $1 billion in Q2

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BlackBerry cuts 4500 jobs, loses nearly $1 billion in Q2 Sep 20th 2013, 19:48 Very bad news for BlackBerry. The Canadian smartphone maker posted a $995 million operating loss for the second quarter and will cut 4500 jobs—over a third of its staff—in a bid to cut costs. The news comes moments after the company halted trading on its stock, which has been on a steady downward decline in the past several months. Recent BlackBerry phones, like the Z10 and Q10, failed to catch on with consumers, and BlackBerry has been fighting a losing battle against Microsoft for the number three spot in the mobile market. In light of the results, the company said it plans to restructure and lay off around 4500 staff and cut the number of phones it sells from six to fourth handsets. Those phones will be targeted at the enterprise and prosumer markets. To read this article in full or to leave a comment, please click here Media files: blackberry_logo_black_580-copy-100030236-small.jpg

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