BlackBerry says more job cuts coming this quarter as part of ongoing separation

 WATERLOO, ONT. — BlackBerry Ltd. says it’s taking action to streamline costs, including cutting jobs, as part of the ongoing process to separate two of its business divisions. The Waterloo, Ont.-based technology company says last quarter it cut around 200 jobs as part of efforts to slash costs. This quarter, the company says it anticipates [[{“value”:”

WATERLOO, ONT. — BlackBerry Ltd. says it’s taking action to streamline costs, including cutting jobs, as part of the ongoing process to separate two of its business divisions.

The Waterloo, Ont.-based technology company says last quarter it cut around 200 jobs as part of efforts to slash costs.

This quarter, the company says it anticipates further job losses within its cybersecurity business, which it expects to generate annualized savings of around US$27 million.

It’s also taking other steps to save money, including exiting six of its 36 global office locations. 

The company says it expects to return to positive cash flow by the fourth quarter of its 2025 financial year.

BlackBerry reported a loss of US$21 million in its third quarter ended Nov. 30. 

This report by The Canadian Press was first published Feb. 12, 2024.

Companies in this story: (TSX:BB)

The Canadian Press

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