BlackBerry warns of huge quarterly loss, to slash jobs
TORONTO (REUTERS) - BlackBerry Ltd warned on Friday that it expects to report a huge second-quarter operating loss next week and that it plans to cut more than a third of its workforce.
The company, which has struggled to claw back market share from the likes of Apple Inc's iPhone, Samsung Electronics Co Ltd's Galaxy phones, said it expects to report a net operating loss of about US$950 million (S$1.18 billion) to US$995 million in the quarter ended Aug 31, due to writedowns and other factors.
It said it will cut about 4,500 employees.
The Waterloo, Ontario-based company said it expects that its adjusted net loss, before giving effect to the inventory and restructuring provisions, will be in a range of about US$250 million to US$265 million, or a loss of 47 US cents to 51 US cents per share.