RIM Begins "Cost-Optimizing" Employees

Research In Motion didn’t waste any time implementing that “cost-optimization program” it announced while reporting earnings last week. The company began sacking employees at its Waterloo, Ontario, headquarters today. It’s not yet clear how broad these initial cuts are, but various media reports put the number at about 200.

RIM declined comment on the news Tuesday, but the move comes just days after it announced plans to cut an unspecified number of jobs as part of what co-CEO Jim Balsillie euphemistically described as a “streamlining.”

“I wouldn’t call this a reorganization or a restructuring,” he said last week. “If we don’t have an efficient organization, that’s not helping anybody. This is more of a streamlining exercise.”

PREVIOUSLY:

• RIM Downgraded From “Can’t Get Worse” to “Worse”


• Analyst Consensus on RIM: Look Out Below


• RIM Co-CEOs to Critics: We’re Awesome and We’re Not Going Anywhere


• RIM CEOs Insist Outsiders Don’t Get It, but Are We Really the Ones Confused?


• RIM Talks to the Street After BlackBerry’s Rough Quarter


• Research In Motion Slashes Its Forecast Amid BlackBerry Weakness, Plans Layoffs


• Break Out the Pepto-Bismol — RIM Reports Earnings Today


• Mission RIMpossible: Full-Year Earnings of $7.50 Per Share

Generated by BlogIt

BlogIt - Auto Blogging Software for YOU!