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Blackberry to cut 4,500 jobs amid earnings plunge Blackberry to cut 4,500 jobs amid earnings plunge
(35 minutes later)
Blackberry announced on Friday that it would cut 4,500 jobs, or 40% of its worldwide workforce.Blackberry announced on Friday that it would cut 4,500 jobs, or 40% of its worldwide workforce.
It also said it anticipated a loss of as much as $995m (£621.1m) when it reports its second-quarter earnings next week.It also said it anticipated a loss of as much as $995m (£621.1m) when it reports its second-quarter earnings next week.
Shares plummeted 20% after briefly being halted following the announcement.Shares plummeted 20% after briefly being halted following the announcement.
In August, the troubled smartphone maker said it was evaluating a possible sale of the company.In August, the troubled smartphone maker said it was evaluating a possible sale of the company.
"The company has sailed off a cliff. What do you expect when you announce you're up for sale?" said BGC technology analyst Colin Gillis. "The company has sailed off a cliff," BGC technology analyst Colin Gillis told the BBC.
"Who wants to commit to a platform that could possibly be shut down?" "This is the quarter where Blackberry as you used to know it is no longer."
The company has been seeking a path forward after its much-touted new phone and operating system failed to catch on.The company has been seeking a path forward after its much-touted new phone and operating system failed to catch on.
This week, it released a new version of its handset, the Z30, which was praised by observers but was nonetheless overshadowed by Apple's launch of its new smartphone products. The Z10, which was released last year to much fanfare after many delays, has failed to enthuse consumers.
In June, boss Thorstein Heins said that the company had shipped only 2.7 million Z10 phones out of 6.8 million total. Many Blackberry users had instead opted to stick with earlier models of the smartphone.
This week, the company released a new version of its handset, the Z30, which was praised by observers but was nonetheless overshadowed by Apple's launch of its new smartphone products.
"It's not a bad phone," said Mr Gillis.
"I'm sure they'll sell at least one."