Go to the Globe and Mail homepage

Jump to main navigationJump to main content

A man tries to hold on to his umbrella as he walks past a Blackberry advertisement billboard in Mumbai. (DANISH SIDDIQUI/REUTERS)
A man tries to hold on to his umbrella as he walks past a Blackberry advertisement billboard in Mumbai. (DANISH SIDDIQUI/REUTERS)

RIM cuts 200 jobs in Waterloo, reports say Add to ...

Technology giant Research In Motion has kick-started a round of layoffs by issuing pink slips to 200 staff in Waterloo, media in the Southwestern Ontario city reported Monday.

The American public-relations firm that handles media inquiries for the company could not be immediately reached to confirm the reports.

More related to this story

RIM, maker of the BlackBerry, announced Friday that it would cut jobs in an effort to streamline operations. The layoffs would take place over the current quarter. RIM did not say exactly how many jobs would be lost or where cuts would occur.

They are part of a package of changes, including speeding up the launch of new products, designed to shore up the company, which has seen its fortunes flag in the face of increased competition in the smart phone market.

On Friday, as it announced first-quarter earnings, it cut 2012 earnings projections and its stock lost 21.5 per cent of its value, hitting its lowest point in five years. It fell another 6.7 per cent Monday.

The company has a total of 17,500 employees, thousands of whom work in Waterloo, where the company is headquartered in a complex of buildings in an industrial park.

Follow on Twitter: @adrianmorrow

 
Live Discussion of RIM on StockTwits
More Discussion on RIM-T

More related to this story

In the know

Most popular video »

Highlights

More from The Globe and Mail

Most Popular Stories