“Research in Motion Ltd. has started laying off small batches of employees, part of a broad restructuring meant to cut costs at the struggling BlackBerry-maker, according to people familiar with the situation,” Will Connors reports for The Wall Street Journal.
“Batches of at least 10 people have been laid off for the past several weeks, according to these people,” Connors reports. “Some employees at RIM’s quality control, operations and parts departments have been among those being laid off, these people said.”
Connors reports, “Late Tuesday, a spokesman reiterated that RIM had already “reduced some positions as part of this program and may continue to do so as the company methodically works through a review of the business.” The spokesman declined to comment on recent personnel moves.”
Read more in the full article here.
MacDailyNews Take:
RIM. Dead company walking. – MacDailyNews, August 5, 2010
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]
Every company hits rock bottom… Apple will one day again for the second time…. It too will be beleguared.
Yes Mike, you are right…. But there is a good chance that the sun will turning into a red giant around that time…. so, it will not be a problem. LOL
Maybe. Maybe not. No one knows. Not fanboys not pc fanboys. No one knows. Pure conjecture. Who would have thought 15 years ago that Sony would be in the position it’s in now? General Motors? US Steel? We’ll all know in 15 years how well AAPL has done. I am putting my money on them now. I see good things in the near future. Past 2 years out? Who knows?
30 years ago I quit US Steel and took a job in a recession proof, export proof industry precisely because the Japanese at the time were taking all the low hanging fruit (profitable customers) away from USS. Most of their workers didn’t do anything until they found the gates locked one morning a few years later. It’s the same thing every time.
Hope you still have a job. But nothing is the same every time. Each company and situation is unique. The only common thread is uncertainty. Only in hindsight will we know how successful any company has been for a period of time. Apple,Target,Ford ; it really doesn’t matter which company. Even if someone is in love with a company. No one knows how well any company will succeed going forward. It’s just speculation. Otherwise it would be possible to invest and never ever lose. And that has never happened other than in movies.
I’m still in the electric utility industry after 30 years. They can’t import power, nor can they export the jobs, and people don’t cut their electric service off voluntarily in a recession.
But I will be unemployed soon. Another of the decisions I made a long time ago was to invest in a beleaguered company that made computers. At $7.50 a share, how much could I lose on a couple thousand shares? I was just waiting for Medicare to kick in before I retire with a larger net income than I have now. Thanks, Steve!
+∞
Zeke, you’re my hero of the day. Great story. And I for one am always grateful for those who do work for utility companies to provide power, water, and gas to us.
RIM has a quality control department?
MDN, you definitely called it!
Cue rabid, gloating, drooling snide fan boy comments in 5…4…3…2…..
Most people respect the job that RIM did in the years leading up to the iPhone. They simply got nailed along with the rest of the tech world when Apple reinvented the smartphone. Some companies adapted better than others to the iPod, iPhone, and iPad. RIM did a poor job.
RIM’s executives will probably make out OK financially. As usual, the regular employees will end up taking the big hit for the poor leadership and decisions on the part of management.
Well said.
Hey Joker,
When RIM promoted it’s product by disparaging Apple as a bunch of amateurs, did you call them about for being snide and gloating?
2000 lost RIM jobs. That’s a dis-asster
Will the last one out please turn off the lights.
Oh nos- no more ‘rim jobs’ in Canada.