BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) has announced that it is cutting 100 more positions this week. The cuts are part of the second phase of the company’s transformation plan, which had been announced previously. The Canadian Press reports that about 100 employees in the Waterloo, Ontario area received job terminations on Monday.
The struggling Canadian handset maker laid off 250 other employees in the same area last month.
BlackBerry continues to struggle
On Tuesday Jefferies analysts issued a report saying that their checks indicate BlackBerry has slashed its smartphone production again. Sales of the BlackBerry Q5 do not appear to be going well in Canada. The firm reported that some of the stores it checked had not sold any of the handsets in the first few days after it went up for sale in Canada.
Currently BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB)’s board of directors is looking into strategic options for the company, whether that includes a sale of the company either in whole or in parts or some kind of joint venture or partnership. In light of the news, analysts have been offering various views of what BlackBerry might be able to do and even what it would be worth to potential buyers.
Speculation about BlackBerry’s future continues
Some say the company’s patents could be quite valuable, although others say they might not be worth much to potential buyers. Still others say buyers could be interested in the entire company. And then there’s the wildcard: Prem Watsa. He resigned from BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB)’s board, citing possible conflicts of interest moving forward. He could be the key to the struggling company’s future.
Shares of BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) have been soaring as analysts speculate about the possibilities. Today, however, they declined at the NASDAQ, falling more than 1 percent in early morning trading. It will take some time to find out what will become of the company.