Beleaguered RIM misses on revenue, announces layoffs

“Despite lowering its forecasts for the quarter in late April, Research in Motion announced first-quarter fiscal 2012 earnings today and still missed its revenue target by hundreds of millions of dollars,” Erica Ogg reports for CNET. “The mobile device maker also announced it will start layoffs during the second quarter.”

MacDailyNews Take: This is what failure looks like.

“The company said in a press release that it expects layoffs to begin ‘in the second quarter with the benefits impacting results primarily in Q3 and beyond,'” Ogg reports. “RIM did not give any target for the number of staff reductions.”

Ogg reports, “For the next quarter, RIM is forecasting revenue between $4.2 billion and $4.8 billion, and has lowered its outlook for revenue for the full fiscal year. Now RIM is projecting earnings per share to be between $5.25 and $6.00, excluding any one-time charges or share repurchases.”

Read more in the full article here.

[Thanks to MacDailyNews Reader “Dave” for the heads up.]

MacDailyNews Take: DCW.

Related articles:
O2 rejects RIM’s BlackBerry PlayBook; won’t sell in UK due to end user issues – June 16, 2011
Even RIM doesn’t want their Playbook tablet – June 9, 2011
RIM half-CEO’s biggest fear comes to fruition: Apple unveils iMessage app and service – June 6, 2011
As RIM flounders, investors talk of replacing half-CEOs – May 31, 2011

26 Comments

  1. Layoffs are terrible. Too bad for the people working there that their leaders are incompetent. Instead of working hard to compete, they were busy talking smack, bragging about their existing POS and dismissing Apple as a competitor. It’s their CEO’s that should be laid off. Their already rich, they can afford to take the time off.

    1. This is why I read Dilbert.

      Yeah, the managers complain about the deadwood employees that ruin the bunch. But it’s the deadwood executives who dig a company’s grave.

    2. The two CEOs’ renumeration could probably cover the gains made by the layoffs. Get rid of the two headed monster and promote some go getter from within.

      Or sell the whole mess to Ballmer for 5 times what it’s worth and pension off all of the employees.

      1. If Tweedle Dee and Tweedle Dum really believed in their company, they would cut their salaries to $1 and live off stock options like some other CEO that we know.

    1. I do have to say, it’s still satisfying to see that word applied accurately to Apple’s competitors. We’ve come a long way since the dark doldrums of the 90s!

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