BlackBerry Ltd (BBRY) Lays Off More Workers


BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) has announced yet another round of layoffs. This time, more than 120 workers are losing their jobs. The struggling Canadian company issued a statement saying it continues to try to become profitable again and “optimize” its resources in order to meet their operational targets.

BlackBerry workers laid off this week

According to BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB), this round of layoffs affects workers in both the U.S. and Canada. The company said about 120 of those employees are located at their Waterloo location. Those employees belonged to its product development and wireless technology team.

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The company also said the layoffs are part of its previously announced workforce reduction plan. BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) said back in September that it would slash its workforce by 40%. The job cutting plan is expected to end in May.

BlackBerry sells buildings

BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) also said it sold its BlackBerry 2 building, which was where the laid-off workers were located. The structure was one of five the company sold to the University of Waterloo late last year with a price tag of $41 million. BlackBerry will be leasing buildings two and four back from the university for up to five years, however.

Earlier this year, the company revealed that it was putting 2.2 million more of its real estate holdings in Canada up for sale. Nearly 80% of those holdings are located in the Waterloo area. BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) also sold its U.S. headquarters located near Irving, Tex. earlier this month.

BlackBerry reveals job cuts ahead of earnings

The company said late last week that it would announce its full-year and quarterly earnings for the 2014 fiscal year on March 28. BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) aims to return to profitability in the current fiscal year. Investors will be looking for signs that new CEO John Chen’s turnaround plan is working.