Blackberry is the latest technology company to announce layoffs in an effort to reduce costs as it prepares to split two of its business divisions.
During the last quarter, the former phone maker, which now specialises in software, laid off up to 200 employees to save money.
However, Blackberry’s workforce reductions will continue in the current quarter, with additional layoffs in its cybersecurity business. This division is expected to generate $27 million in annualised savings.
In addition to job cuts, BlackBerry Ltd. is implementing additional cost-cutting measures, such as closing operations at six of its 36 global office locations.
$21 Million Loss
The company intends to achieve positive cash flow by the fourth quarter of the fiscal year 2025. BlackBerry reported a $21 million loss for its third quarter, which ended on November 30.
Blackberry, once known for producing iconic business-grade smartphones, stopped producing handsets in 2016 after licencing the brand name to partners. The company also attempted to produce Android phones as part of its Dtek series.
Some honourable mentions of the most recent Blackberry phones include the Key2 LE, which, as the name implies, includes a physical keyboard for easier typing, something the brand is known for.
Meanwhile, the Blackberry Evolve X, released in 2018, runs Android and lacks a physical keyboard, but it has a carbon fibre textured finish on the back, keeping with the brand’s design language.
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