BlackBerry Cuts More Jobs as Chen’s Turnaround ProgressesGerrit De Vynck
BlackBerry Ltd. cut an undisclosed number of jobs as Chief Executive Officer John Chen keeps tightening spending more than a year and half into his turnaround plan.
“As BlackBerry moves into the next stage of its turnaround, we remain focused on driving efficiencies across our global workforce,” Kara Yi, a spokeswoman for BlackBerry, said in an e-mailed statement Monday. “As a result, some employees have been impacted.” Yi declined to comment on how many employees were affected or where they were based. The Canadian Broadcasting Corporation reported the cuts earlier Monday.
Since taking over in November 2013, Chen has stemmed cash losses and posted profits by cutting costs. The company also cut jobs in May as it brought together different parts of its shrinking smartphone business. BlackBerry had 7,000 employees as of September 2014, according to its website.
BlackBerry shares fell 1.2 percent to $7.68 at the close in New York. The stock is down 30 percent this year.