{"id":12174,"date":"2013-11-01T12:05:26","date_gmt":"2013-11-01T16:05:26","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=12174"},"modified":"2013-11-01T12:05:26","modified_gmt":"2013-11-01T16:05:26","slug":"blackberry-ltd-nasdaqbbry-lays-off-300-employees-in-waterloo","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/blackberry-ltd-nasdaqbbry-lays-off-300-employees-in-waterloo-12174","title":{"rendered":"BlackBerry Ltd. (NASDAQ:BBRY) lays off 300 employees in Waterloo"},"content":{"rendered":"<p style=\"text-align: justify;\">BlackBerry Ltd. (NASDAQ:BBRY)\u00a0has of late been on a wide cost cutting plan and in its most recent move to cut down on costs, it laid off 300 employees from its headquarters in Waterloo. The company announced on Tuesday that the company was following the announcement that was made in September this year when it announced that the total workforce for this smartphone maker would be cut down by nearly 40% which is around 4500 people.<\/p>\n<p style=\"text-align: justify;\">Company spokeswoman Rebecca Freiburger said in an email that the company was in a period of transition and its prime focus at this time is to improve financial results so that they can compete in today\u2019s highly competitive mobile phone market.<\/p>\n<p style=\"text-align: justify;\">The company has announced that it expects to face costs of at least US $400 million by the end of May in 2014. These expenses have been tied off to new entrants in the smartphone lineup, changes to manufacturing and operations elsewhere and lastly to severance payments that the company will make to those laid off.<\/p>\n<p style=\"text-align: justify;\">A recent takeover offer from its largest shareholder Fairfax Financial offered up a valuation of $4.7 billion for the company at $9 per share. There are some other buyers who are buzzing around too according to reports in various media outlets. Some popular names that have been floated include names like Google, Cisco, Sap and even Microsoft.<\/p>\n<p style=\"text-align: justify;\">While all this goes on, the company is expecting that the popularity of its BlackBerry Messenger will usher in a resurgence of the company\u2019s fortunes. The company hopes to turn BBM into a revenue generator through various advertising platforms. Since it launched BBM for iPhones and Android devices more than 20 million users have downloaded BBM on their phones. The company said as many as 10 million downloads were seen in the first 24 hours of its launch.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BlackBerry Ltd. (NASDAQ:BBRY)\u00a0has of late been on a wide cost cutting plan and in its most recent move to cut down on costs, it laid [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":11039,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[3290,3012,1682],"stock_ticker":[],"class_list":["post-12174","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blackberry-ltd","tag-blackberry-ltd-nasdaqbbry","tag-nasdaqbbry","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BlackBerry Ltd. 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