NEWS
 
BlackBerry Ltd is done with cuts and ready for growth
Internal BlackBerry Ltd memo outlines the CEO's plans to expand
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Photo: Canadian Press

BlackBerry Ltd is planning to expand. They’re set to hire a slew of new staff, including sales representatives and product developers.

According to Reuters, BlackBerry’s Chief Executive, John Chen, sent out an internal memo on Friday. “We have completed the restructuring notification process, and the workforce reduction that began three years ago is now behind us,” said Chen. “More importantly, barring any unexpected downturns in the market, we will be adding headcount… beginning in modest numbers.”

BNN anchor Michael Hainsworth said he’s not surprised. “Their job cuts have been massive over the last three years,” he said and noted that BlackBerry went from 18 000 employees to 7000. “That cut the headcount - and the biggest cost associated with the company - in a pretty big way.”

Moving forward, Hainsworth said the company will be targeting niche customers that are part of the corporate enterprise market.

He adds that there’s been a lot of interest in seeing BlackBerry’s stock go to zero and that currently, short sellers are responsible for holding one out of every four shares.

“If the company’s success continues along this track, they’re going to have to cover those positions and the stock price has nowhere to go but up,” said Hainsworth.

As for products, he said consumers will see new gadgets this fall.

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  1. dama posted on 08/05/2014 02:15 PM
    Good news for current employees that the cost cutting measures are over, for now they dont have to look over their shoulders and it is good news for Waterloo too that eventually BB will be hiring ..

    Hope the new gadgets by BB will sell well..
  2. Karl Burgin posted on 08/06/2014 10:54 AM
    Well....its about time.
    About over a year ago, I was convinced that BlackBerry was done. Then I was introduced to their Z10 and Z30 phones- and they are amazing. Just that their marketing sucked, and they were hemorrhaging money on needlessly buying jets, and trying to purchase hockey teams.
    No Mr. Chen has come in and changed things around in a big way. He saved the company from oblivion, and deserves a resounding round of applause.

    Dying to see how the BlackBerry Passport performs. The specs for the phone are already amazing, and I have a feeling its going to be the flagship device for BlackBerry- if they're able to market the thing properly.

    Job well done- and their shares are also over the $10 mark ;p
    1. Angry Bill posted on 08/20/2014 04:33 PM
      @Karl Burgin I agree, Karl. The Passport looks pretty darn good.

      However, I'm a bit pessimistic about believing that the cuts are over. Let's just say that the cuts are over until the next round of cuts.
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3 0
Photo: Canadian Press

BlackBerry Ltd is planning to expand. They’re set to hire a slew of new staff, including sales representatives and product developers.

According to Reuters, BlackBerry’s Chief Executive, John Chen, sent out an internal memo on Friday. “We have completed the restructuring notification process, and the workforce reduction that began three years ago is now behind us,” said Chen. “More importantly, barring any unexpected downturns in the market, we will be adding headcount… beginning in modest numbers.”

BNN anchor Michael Hainsworth said he’s not surprised. “Their job cuts have been massive over the last three years,” he said and noted that BlackBerry went from 18 000 employees to 7000. “That cut the headcount - and the biggest cost associated with the company - in a pretty big way.”

Moving forward, Hainsworth said the company will be targeting niche customers that are part of the corporate enterprise market.

He adds that there’s been a lot of interest in seeing BlackBerry’s stock go to zero and that currently, short sellers are responsible for holding one out of every four shares.

“If the company’s success continues along this track, they’re going to have to cover those positions and the stock price has nowhere to go but up,” said Hainsworth.

As for products, he said consumers will see new gadgets this fall.

Leave a comment:

showing all comments · Subscribe to comments
  1. dama posted on 08/05/2014 02:15 PM
    Good news for current employees that the cost cutting measures are over, for now they dont have to look over their shoulders and it is good news for Waterloo too that eventually BB will be hiring ..

    Hope the new gadgets by BB will sell well..
  2. Karl Burgin posted on 08/06/2014 10:54 AM
    Well....its about time.
    About over a year ago, I was convinced that BlackBerry was done. Then I was introduced to their Z10 and Z30 phones- and they are amazing. Just that their marketing sucked, and they were hemorrhaging money on needlessly buying jets, and trying to purchase hockey teams.
    No Mr. Chen has come in and changed things around in a big way. He saved the company from oblivion, and deserves a resounding round of applause.

    Dying to see how the BlackBerry Passport performs. The specs for the phone are already amazing, and I have a feeling its going to be the flagship device for BlackBerry- if they're able to market the thing properly.

    Job well done- and their shares are also over the $10 mark ;p
    1. Angry Bill posted on 08/20/2014 04:33 PM
      @Karl Burgin I agree, Karl. The Passport looks pretty darn good.

      However, I'm a bit pessimistic about believing that the cuts are over. Let's just say that the cuts are over until the next round of cuts.
showing all comments

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