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article imageBlackberry to cut 4,500 jobs

By Tim Sandle     Sep 22, 2013 in Business
In an attempt to address considerable financial losses, Blackberry has announced it is planning to cut 4,500 jobs, equal to 40 percent of its worldwide workforce.
This week Blackberry will announce its second-quarter figures. The smartphone company is anticipating posting a loss of as much as $995 million, according to Engadget. To add to the bad news, at the end of last week the company's share price fell by 17 percent as traders too expected bad news from the struggling tech firm.
Most of the losses are losses attributable to disappointing sales of its new Z10 model smartphone. Last week the company released a new version of its handset, the Z30, which was praised by observers, according to the BBC, but the new phone was overshadowed by Apple's launch of its new smartphone products.
In a statement issued on September 20, Blackberry's chief executive Thorstein Heins said: "We are implementing the difficult, but necessary operational changes announced today to address our position in a maturing and more competitive industry, and to drive the company toward profitability. Going forward, we plan to refocus our offering on our end-to-end solution of hardware, software and services for enterprises and the productive, professional end user."
This means, the Daily Telegraph notes, that Blackberry will now focus on a diminishing niche of business users.
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