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.