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BlackBerry Lays Off 250 Employees at Waterloo Headquarters

by Todd Haselton | July 25, 2013July 25, 2013 8:30 am PST

BlackBerry Q10-Camera

BlackBerry laid off 250 employees at its Waterloo, Ontario headquarters, CNBC said on Thursday. The company has struggled to gain traction in the consumer market with its new BlackBerry 10 smartphones, including the BlackBerry Q10 and the BlackBerry Z10 in the United States, and may be making the cuts as part of a cost-savings measure.

It’s unclear if the employees were part of a specific group in the company. The firm has yet to announce any plans for a new tablet, for example, and the head of its BlackBerry Playbook division recently resigned from the firm, following a mass exodus of other executives over the past few years.

The company reported its fiscal first quarter 2014 earnings in June when it posted a loss of $67 million, following a profitable fiscal fourth quarter 2013 earnings report. At the time CEO Thorsten Heins said the smartphone market remained highly competitive, which made it difficult to estimate revenue, profits and unit sales. We will keep you in the loop if BlackBerry discloses why the employees were cut, but again, we have a feeling these cuts were made as part of cost savings efforts.

CNBC

Todd Haselton

Todd Haselton has been writing professionally since 2006 during his undergraduate days at Lehigh University. He started out as an intern with...

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