RIM Trims Workforce in $1b Cost-Cutting Effort
RIM does not detail the number of employees cut, or where the jobs were cut.
The company did not specify the number of jobs cut or where headcount was reduced. The job cuts were in line with a May 29 announcement, when the company said that it would look to reduce headcount and spending, said a RIM spokesman in email.
RIM has committed to achieving significant efficiencies and operating cost reductions over the course of this fiscal year, the spokesman said. RIM reports first-quarter 2013 earnings on June 28, when it will provide an update on its business.
RIM makes BlackBerry devices and has said competitive pressures are hurting its business, with devices running Apple's iOS and Google's Android OS gaining market share. About 9.7 million BlackBerry phones shipped in the first quarter this year for a market share of 6.4 percent, a decline from the 13.8 million units that shipped for a 13.6 percent market share in the first quarter of 2011, according to IDC.
The company is also hurting financially. In its May 29 announcement, RIM warned that it expects an operating loss for the first fiscal quarter of 2013, which ended on June 2. The company also said it had hired two investment banks -- J.P. Morgan and RBC Capital Markets -- to review the company's "various financial strategies, including opportunities to leverage the BlackBerry platform through partnerships, licensing opportunities and strategic business model alternatives."
The company in March reported a net loss of $125 million in the fourth quarter of 2012, and a 25 percent year-over-year decline in revenue, to $4.2 billion.
It looks like a regular smartphone case. But Wello is embedded with a plate containing sophisticated sensors that can detect vital signs as you hold your phone.
HP was the first IT vendor out of the gate with its analyst-only event. Columnist Rob Enderle was there to grade HP on five metrics and see how the company stacks up to IBM, EMC and Dell -- all of which know a thing or two about successful industry analyst events.
Microsoft has launched a new website to "tell the untold story" of something it believes changed the history of Windows security and indeed Microsoft itself – the Software Development Lifecycle or plain ‘SDL' for short.
Confidence in the underlying strength of the tech sector as a whole appears to be solid despite some dispiriting news on the hardware front.