Blackberry Announces Layoffs in the Thousands

Blackberry says it will lay off 4,500 employees, or 40 percent of its global workforce, as it reports a nearly 1 billion dollar second-quarter loss.

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by Your Alaska Link News Team

AK TECH- Blackberry says it will lay off 4,500 employees, or 40 percent of its global workforce, as it reports a nearly 1 billion dollar second-quarter loss.

Blackberry had been scheduled to release earnings this week, but the canadian company said late Friday afternoon that it expects to post a staggering loss of between 950 and 995 million dollars for the quarter.
  
Blackberry said it wants to slash operating costs in half by the first quarter of 2015 so cutting its global headcount to 7,000 total employees is necessary.
   
However, Capital IQ Equities analyst James Moorman says that despite the bad numbers, the company still has plenty of value left in it.

"There's value in the subscriber base there's value in BBM (Blackberry Messenger) there's value in their other tangible assets and they still have a fair amount of cash."