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| Blackberry to cut 4,500 jobs amid earnings plunge | Blackberry to cut 4,500 jobs amid earnings plunge |
| (about 1 hour later) | |
| Blackberry has announced it is planning to cut 4,500 jobs, or 40% of its worldwide workforce, in an attempt to staunch huge losses. | Blackberry has announced it is planning to cut 4,500 jobs, or 40% of its worldwide workforce, in an attempt to staunch huge losses. |
| The smartphone maker said it anticipated a loss of as much as $995m (£621m) when it reports its second-quarter earnings next week. | The smartphone maker said it anticipated a loss of as much as $995m (£621m) when it reports its second-quarter earnings next week. |
| Shares in the firm closed down 17% after briefly being halted following the announcement. | Shares in the firm closed down 17% after briefly being halted following the announcement. |
| In August, the Canadian company said it was evaluating a possible sale. | In August, the Canadian company said it was evaluating a possible sale. |
| In a statement on Friday, 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." | In a statement on Friday, 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." | "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." |
| 'Off a cliff' | 'Off a cliff' |
| The company said the losses were primarily attributable to disappointing sales of its new Z10 model smartphone. | The company said the losses were primarily attributable to disappointing sales of its new Z10 model smartphone. |
| Released in January to much fanfare after many delays, the phone has failed to enthuse consumers. | |
| In June, Mr 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. | In June, Mr 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. |
| Over the summer, word trickled out the company had hired a series of advisors to help it explore options. | Over the summer, word trickled out the company had hired a series of advisors to help it explore options. |
| In August, board member Timothy Dattels was appointed to a committee that would consider different business models, including a potential sale. | In August, board member Timothy Dattels was appointed to a committee that would consider different business models, including a potential sale. |
| "We believe that now is the right time to explore strategic alternatives," said Mr Dattels at the time. | "We believe that now is the right time to explore strategic alternatives," said Mr Dattels at the time. |
| Analysts have long indicated that Blackberry's trove of patents could be attractive to potential buyers, but none of the large technology companies have publicly indicated interest. | Analysts have long indicated that Blackberry's trove of patents could be attractive to potential buyers, but none of the large technology companies have publicly indicated interest. |
| "The company has sailed off a cliff," BGC technology analyst Colin Gillis told the BBC. | "The company has sailed off a cliff," BGC technology analyst Colin Gillis told the BBC. |
| "This is the quarter where Blackberry as you used to know it is no longer." | "This is the quarter where Blackberry as you used to know it is no longer." |
| Mr Gillis said the job cuts and losses today could dampen the enthusiasm of potential buyers and might indicate the company could not find any interested parties. | Mr Gillis said the job cuts and losses today could dampen the enthusiasm of potential buyers and might indicate the company could not find any interested parties. |
| 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. | 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. | "It's not a bad phone," said Mr Gillis. |
| "I'm sure they'll sell at least one." | "I'm sure they'll sell at least one." |