RIM Announces Loss in Net Income, Layoffs Coming
All's not good in the land of RIM, as their latest earnings call reveals some sobering news. From This is My Next:
Net income is down roughly 10 percent over the same quarter last year — $695 million versus $769 million — and it’s down some $239 million from the quarter prior (though fourth quarters typically perform unusually well thanks to the holiday shopping season). In light of the downturn, the company is announcing a “cost optimization program” that’ll include layoffs and a “realignment” to focus on high-growth areas of the company.
Read more about the state of RIM over at This is My Next.