“Research In Motion Ltd said on Monday it plans to cut about 2,000 jobs, or 11 percent of its workforce, detailing cuts that it first announced last month,” S. John Tilak, Euan Rocha and Aftab Ahmed report for Reuters.
“One analyst said the job cuts were slightly deeper than expected, but were key to RIM’s recovery from a slump triggered by stiff competition from Apple Inc. and Google Inc.,” Tilak, Rocha and Ahmed report. “RIM said one-time charges from the job cuts were not included in its outlook for the second quarter or for the full year, and it would explain the financial impact of the cuts when it reports second quarter results on September 15. The stock, already near multi-year lows, was down as much as 2 percent before the market opened.”
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Tilak, Rocha and Ahmed report, “The BlackBerry maker also announced a string of changes to executive responsibilities and, in the latest departure, said Chief Operating Officer Don Morrison would retire. Morrison, currently on temporary medical leave, will be leaving after more than 10 years at the company.”
Read more in the full article here.
they need to start with the two CEOs.
I think the solution is 2 C-level executives in every position – 2 COO’s, 2 CFO’s, 2 CIO’s…..
Why stop there? Aim for 2 Content Customers!
1 step closer. They really did just split the COO position.
How is this possible? The PlayBook has just been approved for U.S. government use:
Approved for use is one thing, people *wanting* to use them is another.
That’s the problem of the US government—clueless as usual. The people need a Third Force of dedicated and trustworthy office bearers to kick out the incompetent Democrats and Republicans.
The problem isn’t the Democrats and/or Republicans. The problem is power-hungry centralized government. One hundred fifty years ago, the federal government, run by Republicans, forgot that the states created it, not vice versa. Like in the Terminator series when Skynet became self-aware.
So, the Republicans are to blame for its creation, but both parties enjoy its largesse, at tax payer expense.
RIM, circling the toilet since 2007.
Where is the announcement that the two obviously incompetent CEO’s will take no pay for the next year, will give back money from the previous year, will not begin getting compensation again until the company shows a profit for eight straight quarters and will not be able to get back any lost compensation? Show some damn leadership! RIM was a one trick pony (can we say Dell?) bought into by users who lacked and still lack any vision. Anyone who tells me they are still using using a Crackberry and I immediately stop listening to them. Prejudice perhaps, but I am sure they have nothing of value to offer me if they are still living in the dark ages.
Maybe they are stuck with the blackberry or just riding out the rest of their contract?
Not that I would expect a pretentious dick to use his brain or anything. 😉
Dude – Your point is well taken. I do attempt to find out their situation. The ones that scare the bejesus out of me are the “I have always had one, I feel comfortable with it and it meets my needs.” or some variation of the sort. Of course the poor person whose company dictates the use of Crackberries cause me to wonder if they stay with the neanderthal company because they get good health insurance and/or if I really want to really deal with their company.
Dude, who has a four-year contract???
It has taken a long time for RIMM investors to recognize the consequences of their poor product designs. While the overblown enthusiasm ended in late 08, the state of things finally started sinking in this year. Other investors have had an easy time taking advantage of the gap between RIMM’s stock valuation and the company’s reality.
Is it just me or is it really an ominous sign for a company when the best way (or the only way) to turn it around and show a profit is to fire its people?
Isn’t it quite obvious to everyone that the floor sweeper and clerk answering the phones and the other 1,998 other people who are being fired were the cause of RIM’s problems? I mean, isn’t it logical you fire the people who caused the problems? Damn lazy incompetents!
Has any company ever climbed back into prosperity by firing its employees? To me, that’s a like a losing runner in a race deciding the best way to catch up to the pack is to cut off his toes.
I could be wrong. Firing employees isn’t necessarily a bad thing if it’s about getting rid of business areas that aren’t contributing to the bottom line. But I didn’t think the problem with RIM was bloat. I thought they were having a crisis of innovation, and you don’t solve that by chopping your workforce.
——RM
“Has any company climbed back into prosperity by firing its employees?”
Ever heard of Apple? Things got better after they fired Gil Amelio.
sure, let the sick guy take the fall…
I’m waiting for the day that RIM finally admits they are, and have always been a software company and releases an email APP for iOS and Android
… but said app will only work on a tablet when tethered to a phone … I can see it now!
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