BlackBerry warns of big loss, 4,500 job cuts; shares dive

By Euan Rocha TORONTO (Reuters) – BlackBerry Ltd warned on Friday it expects to report a huge quarterly operating loss next week and that it will cut more than a third of its global workforce, rekindling fears of the company’s demise and sending its shares into a tailspin. The company, which has struggled to claw back market share from the likes of Apple Inc’s iPhone and Samsung Electronics Co Ltd’s Galaxy phones, said it expects to report a net operating loss of between $950 million and $995 million in the quarter ended August 31, due to writedowns and other factors.

Quoted from BlackBerry warns of big loss, 4,500 job cuts; shares dive on Gadgets News Headlines – Yahoo! News

BlackBerry maker Research In Motion cut its earnings guidance for its fiscal first quarter, blaming slower-than expected smartphone shipments. Shares plunged. Click the chart to track shares of BlackBerry. BlackBerry said it will report a loss of nearly $1 billion for the second quarter and slash 40% of its global work force. - The pany said it plans to shave its operating costs by some 50 % over the next nine months, as it aims to focus Tags: blackberry, warns, loss, cuts, BlackBerry Security Exec Warns of Research In Motion's VP Security says he's concerned that online miscreants could increasingly target devices and other smartphones in the future, in attempts to take Reddit gives you the best the internet in one place. Get a constantly updating feed breaking news, fun stories, pics, memes, and videos just for you. Passionate about something niche? Reddit has thousands

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