BlackBerry to cut 4500 jobs, reports net losses of $950 million

Earlier today, trading stopped for BlackBerry’s stock and now we know the reason. The company has reported a net loss of $950 million and will be laying off 4500 employees. This comprises of almost 40% of the entire workforce. The company plans to reduce expenses by almost 50% and will retain about 7,000 jobs worldwide.

BlackBerry 10

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