RIM to Cut 10 Percent of Workforce
RIM says move will save company up to $25 million in the long term.Research in Motion Ltd. is laying off approximately 10 percent of its workforce in an effort to cut costs, company officials announced on Tuesday. RIM, of Waterloo, Ontario, is expecting a pre-tax charge of between $8 million and $9 million for the third quarter of fiscal 2003, but expects to save up to $25 million in the long term. RIM had about 2,200 employees at the beginning of November. "We believe this streamlining will prove to be a prudent move for RIM in both the near term and the long term," said Jim Balsillie, RIMs chairman and CEO.
RIM manufacturers the BlackBerry line of wireless e-mail pagers and the complementary BlackBerry server software.