BlackBerry cuts staff and strives to turn losses into profits

BlackBerry cuts staff and strives to turn losses into profits

BlackBerry has been extremely restructured, announcing 120 job cuts, which are still part of the company's ongoing cost-cutting efforts, mostly by the product development and wireless technology department based in Waterloo, Ontario, Canada.

BlackBerry said last year that it would cut costs, in part by cutting its workforce by 40 per cent.

BlackBerry is currently working hard to turn losses into profits and continue to make good use of resources to achieve its own operating goals, BlackBerry said in a statement.

The statement added that BlackBerry understands the contributions made by laid-off employees to the company and the difficulties it has faced since then.

In addition to layoffs and expenses, BlackBerry is also trying to develop new business customers to increase revenue. In December, BlackBerry sold a number of buildings to the University of Waterloo for C $41 million. The sales contract also allows BlackBerry to lease back a number of buildings for up to five years.

Earlier this month, BlackBerry also sold its Irving, Texas-based company to Brookfield property Group (Brookfield Property Group) for an undisclosed amount. Although BlackBerry sells its headquarters in the United States, it will lease back some of it in the future.

BlackBerry is scheduled to release its fourth quarter results on the 28th. BlackBerry fell 19 points to close at C $10.13 in Toronto.