“BlackBerry Ltd. shares slid on Wednesday on the heels of a report that it will lay off up to 40% of its 12,000 workers,” Sue Chang and Saumya Vaishampayan report for MarketWatch.
“BlackBerry shares fell 1.5%. The Canadian company is preparing to reduce its staff by up to 40% by the end of the year, The Wall Street Journal reported,” Chang and Vaishampayan report. “The wireless devices maker has gone through a series of layoffs in recent years in an effort to reduce costs.”
Chang and Vaishampayan report, “The news overshadowed the unveiling of BlackBerry Z30, a smartphone with a 5-inch display, to capitalize on the growing popularity of devices with bigger screens known as ‘phablets.’ The Z30 is scheduled to hit retail stores in the U.K. and the Middle East next week.”
Read more in the full article here.
MacDailyNews Take: The Z30’s main distinction is that it may well end up being the last phone DCW ever releases.
It doesn’t get much more “Amateur Hour” than unveiling a new product only to completely obliterate it leaks of with massive layoffs. The Z30 had zero chance before the huge job cuts; now it has a negative chance.