“Additional job cuts at Research In Motion Ltd would be prudent as the BlackBerry maker tries to improve its free cashflow ahead of the planned launch of its next-generation phones later this year, Macquarie Equities Research said,” Aftab Ahmed reports for Reuters.
“RIM, which employs about 16,500 people, plans to bring its workforce closer to 10,000 by early next year, two sources told Reuters,” Ahmed reports. “‘We support further cost realignment in the face of falling revenue and margins,’ Macquarie analyst Kevin Smithen said in a note to clients.”
Ahmed reports, “Macquarie cut its price target on RIM’s U.S.-listed shares to $14.50 from $17.50. They had closed at $11.00 on Friday on the Nasdaq.”
Read more in the full article here.
MacDailyNews Take: Au revoir, RIM assiégée.
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