{"id":47384,"date":"2013-09-21T09:43:00","date_gmt":"2013-09-21T09:43:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/blackberry-to-cut-4500-jobs\/47383\/"},"modified":"2013-09-21T09:43:00","modified_gmt":"2013-09-21T09:43:00","slug":"blackberry-to-cut-4500-jobs","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/blackberry-to-cut-4500-jobs\/47384\/","title":{"rendered":"Blackberry To Cut 4,500 Jobs"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p>Beleaguered smartphone maker, Blackberry (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=BBRY\" target=\"_blank\" rel=\"noopener\">NASDAQ: BBRY<\/a>) announced on Friday that it will slash 4,500 jobs or 40% of the total global workforce.<\/p>\n<p><span id=\"more-47384\"><\/span><\/p>\n<p>Blackberry, once considered as a pioneer of the smartphone industry, anticipates posting a loss of $995 million. The Company is scheduled to report fiscal second quarter results next week.<\/p>\n<p>Shares nosedived in aftermarket hours on Friday after trading was halted temporarily following the announcement.<\/p>\n<p>Earlier in August, the Company said that it was considering all strategic <a href=\"http:\/\/www.knowfinance.com\/category\/options\/\" target=\"_blank\" rel=\"noopener\">options<\/a>, including a possible sale.<\/p>\n<p>In a statement released on Friday, the Company\u2019s CEO, Thorstein Heins said, \u201cWe are implementing the difficult, but necessary operational changes announced today to address our position in a maturing and more competitive industry, and to drive the company toward profitability.\u201d<\/p>\n<p>Blackberry said that losses were mainly attributable to poor sales of its Z10 model, which hit the shelves in January amid much fanfare.\u00a0 However, the Phone struggled to excite users. In June, the Company reported that it shipped merely 2.7 million Z10 phones out of\u00a0 total 6.8 million shipments.<\/p>\n<p>Last week, the Company unveiled its latest model, Z30, aiming to counter Apple Inc.\u2019s latest model iPhone 5S and Samsung\u2019s Galaxy S4.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/blackberry-to-cut-4500-jobs\/47384\" data-title=\"Blackberry To Cut 4,500 Jobs\"><\/div>\n<p><script id=\"mNCC\" language=\"javascript\">  medianet_width='600';  medianet_height= '250';  medianet_crid='814932888';  <\/script>  <script id=\"mNSC\" src=\"https:\/\/web.archive.org\/web\/20130924041758js_\/http:\/\/contextual.media.net\/nmedianet.js?cid=8CUT71M67\" language=\"javascript\"><\/script> <\/p>\n<p><!-- AddThis Button BEGIN --><\/p>\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a><br \/>\n<a class=\"addthis_button_preferred_2\"><\/a><br \/>\n<a class=\"addthis_button_preferred_3\"><\/a><br \/>\n<a class=\"addthis_button_preferred_4\"><\/a><br \/>\n<a class=\"addthis_button_compact\"><\/a><br \/>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n<p><script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script><br \/>\n<!-- AddThis Button END --><\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-lower-on-debt-ceiling-worries\/47407\"><br \/>\nStocks End Lower on Debt Ceiling Worries<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-futures-edge-lower-silver-futures-slips-as-well\/47405\"><br \/>\nGold Futures Edge Lower, Silver Futures Slips as Well<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-float-in-red-territory-by-mid-day-trade-2\/47404\"><br \/>\nStocks Float in Red Territory by Mid-Day Trade<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-trading-mixed\/47400\"><br \/>\nStocks Trading Mixed<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-euro-slips-after-german-elections\/47398\"><br \/>\nForex Market Update: Euro Slips After German Elections<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-and-silver-prices-extend-losses-2\/47393\"><br \/>\nGold and Silver Prices Extend Losses<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-futures-point-to-a-cautious-start\/47391\"><br \/>\nStocks Futures Point to a Cautious Start<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20130924041758im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><!--script type=\"text\/javascript\">\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\n<\/script>\n<script type=\"text\/javascript\"\nsrc=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script--><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Beleaguered smartphone maker, Blackberry (NASDAQ: BBRY) announced on Friday that it will slash 4,500 jobs or 40% of the total [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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