BlackBerry has laid off another 300 employees from its headquarters in Waterloo.
The layoffs are part of an ongoing effort by the company to reduce its workforce by 4,500 over three quarters.
"We are in a period of transition," BlackBerry spokesperson Rebecca Freiburger is quoted as saying. "We must focus on enhancing our financial results."
BlackBerry still has $2.6 billion in cash and investments, but its burning through that fast. The company spent $500 million of its cash on-hand during the quarter.
Competing smartphone maker Motorola is setting up shop just 10 minutes away from the company's global headquarters in Waterloo. Motorola joins Jack Dorsey's Square in expressing a strong interest in the Waterloo region, which BlackBerry helped put on the map during its decade-long rise to stardom in the 2000s. Square next year will open a permanent office in the area and hire a team of 30 engineers.
Motorola will arrive first, however, and will be just a short walk from Google's local office in the city's Tannery Building, where Communitech—now a member of Google's new Tech Hub Network for entrepreneurs—also resides.
There's good news for BlackBerry, however, and it comes in the form of BBM. The messaging app was downloaded more than 20 million times by iPhone and Android users during its first week available on the competing mobile platforms.
Photo: Reuters/Mark Blinch