BlackBerry Lays Off 250 More Canadian Employees

BlackBerry confirmed this week that it is laying off another 250 employees.

These most recent cuts will be happening at the struggling company's headquarters in Waterloo.

During what BlackBerry calls a "period of transition," the smartphone maker will ultimately lay off 4,500 workers worldwide.

However, arguments are being made that these massive layoffs aren't all bad and may even help boost Canada's economy.

Either way, BlackBerry hopes to stage a turnaround with a $1 billion cash injection a new interim CEO.

The company's market value is current just over $3 billion, down from more than $80 billion in 2008.

Photo: AP

Waterloo, Ontario, Canada

Research In Motion (RIM), a global leader in wireless innovation, revolutionized the mobile industry with the introduction of the BlackBerry solution in 1999. Since then, BlackBerry products and services have continued to change the way millions of people around the world stay connected. With the launch of BlackBerry 10, we have re-designed, re-engineered and re-invented BlackBerry. Not only... more

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Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more

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