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SEP 21, 2013 - Business Insider

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BlackBerry Says It Will Fire 4,500 Employees, Lost Nearly $1 Billion Last Quarter, Stock Closes Down 17% (BBRY)

BlackBerry just announced that it plans to cut 4,500 jobs. It also said it only shipped 3.7 million smartphones last quarter, which is dismally low. The company pre-announced earnings, saying it had a net operating loss of $995 million in Q2 this year. BlackBerry says it will cut operating expenditures by 50% by 2015. BlackBerry shares tanked and closed down 17%. The company is also planning to refocus on enterprise customers instead of normal consumers. BlackBerry is cutting its smartphone lineup from six models to four models. Finally, the company said it still has a special committee ... Read More

Tags: BlackBerry Says It Will Fire 4,500 Employees, Lost Nearly $1 Billion Last Quarter, Stock Closes Down 17% (BBRY),  Communications Latest News