The Waterloo, Ont., software company said it expects additional headcount reductions in its cybersecurity division this quarter, a move it hopes will save $27 million through the year. The firm, which reports its earnings in U.S. dollars, said it aims to add another $100 million to its annualized net profit. (The Logic)
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The Waterloo, Ont., software company said it expects additional headcount reductions in its cybersecurity division this quarter, a move it hopes will save $27 million through the year. The firm, which reports its earnings in U.S. dollars, said it aims to add another $100 million to its annualized net profit. (The Logic)
Talking point: The newly announced workforce cuts are in addition to the 200 jobs that were eliminated from its cybersecurity business last quarter. BlackBerry said it is also slashing administrative costs, including shutting six of its 36 office locations and other “reductions in force.” Although it has shelved plans to take its Internet-of-Things division public, BlackBerry now says it has appointed key executives to prepare the IoT and cybersecurity divisions to run as standalone businesses. Its shares fell nearly four per cent on Tuesday.
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