Beleaguered RIM begins axing jobs in Waterloo

“Four days after announcing it would reduce its workforce, Research In Motion started cutting jobs in Waterloo on Monday,” The Record reports.

MacDailyNews Take: Amateur hour is over.

“A number of employees received layoff notices after arriving for work,” The Record reports. “There were reports that as many as 200 employees were let go, but those numbers could not be confirmed. The company employs 17,500 globally, including about 9,000 in more than 25 buildings in Waterloo Region.”

MacDailyNews Take: Waterloo, indeed.

The Record reports, “News of the job cuts came after RIM reported disappointing financial results. RIM shares closed down another six percent Monday, closing down $1.83 at $25.41 on the Toronto Stock Exchange. RIM shares had [fallen] nearly 20 percent on Friday. Until Friday RIM shares hadn’t been below $30 on a split-adjusted basis since August 2006.”

Read more in the full article here.

MacDailyNews Take: iPhone, killer.

Good luck to those affected. May you next find gainful employment at a well-managed, innovative high tech firm for a change.

Start here: http://www.apple.com/jobs/ca/startsearch.html

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

Related articles:
RIM half-CEOs: What did you know and when did you know it? – June 20, 2011
Former RIM employee: Company ‘brims with hubris’; ‘culturally blind’ to consumers – June 17, 2011
Beleaguered RIM misses on revenue, announces layoffs – June 16, 2011

24 Comments

  1. You know, as a Mac user from the very beginning [128k], I absolutely empathize with the need to gloat and remind the nay sayers of their erroneous conclusions, admonitions, dissinformation, condescension and etc., but then again… RIM is toast, in some form or another, and there are real people there who will need jobs to support family and loved ones – and so on. So when can we really leave RIM behind, let it die the slow painful death we’ve all been watching for some time now, and start looking to the things that bring life, success, light and delight – the bright things, the cool things that thankfully we have. Let’s refocus on making sure that we get to use Macs even in the cooperate sector and that we stay completely out of the closet never to return.

    RIM and Palm, very sad stories indeed – NEXT!

  2. I have been to Waterloo, and to Guelph, Preston, Kitchener, and many other small towns and cities in that area. It’s a wonderful place with good people.

    Do not celebrate unemployment for anyone, please.

  3. I agree with Tekriter. I did my undergrad degree at U. of Waterloo. Lovely place, nice people. RIM’s CEO’s may be losers but real people with families are losing jobs. Please be kind.

    1. RIM’s CEO’s aren’t losers. They’ve done alright by anyone’s standards. They obviously weren’t good CEO’s for a tech company. They had one good idea and never looked forward, nor could they read the tea leaves, nor were they willing to listen to those attempting to share a bit of reality with them. But they built an extremely lucrative business and made a ton of money. I feel for anyone losing their job. Resignations of a lot key, talented people will be following those pink slips.

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