[luqman24]

Technology giant Research In Motion has kick-started a round of layoffs by issuing pink slips to 200 staff in Waterloo, media in the Southwestern Ontario city reported Monday.
The American public-relations firm that handles media inquiries for the company could not be immediately reached to confirm the reports.

RIM, maker of the BlackBerry, announced Friday that it would cut jobs in an effort to streamline operations. The layoffs would take place over the current quarter. RIM did not say exactly how many jobs would be lost or where cuts would occur.

They are part of a package of changes, including speeding up the launch of new products, designed to shore up the company, which has seen its fortunes flag in the face of increased competition in the smart phone market.

On Friday, as it announced first-quarter earnings, it cut 2012 earnings projections and its stock lost 21.5 per cent of its value, hitting its lowest point in five years. It fell another 6.7 per cent Monday.

The company has a total of 17,500 employees, thousands of whom work in Waterloo, where the company is headquartered in a complex of buildings in an industrial park.


Published on Monday, Jun. 20, 2011 11:02PM EDT

Source: The Globe and Mail

Also I read a few days ago at Mobilesyrup.com that RIM's Marketing and Digital Media director left for Samsung. So what do you guys think of all this? Obviously its bad for the employees but is it a good or bad move for RIM's future?

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[andyahs]

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