“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.”
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