Canada’s BlackBerry, on Monday, February 12, 2024, announced that it would lay off many workers from the company.
BlackBerry said it was targeting an additional increase of $100 million in its annual profit as the cybersecurity firm slashes costs, including reducing workforce.
The company’s new target is in addition to a $50 million annualized cost reduction plan announced and 200 job cuts in the prior quarter.
The company, which also makes the QNX and IVY platforms used in automotive applications, in December scrapped its initial public offering (IPO) plans for its Internet of Things (IoT) business, but still expects to split the IoT and cybersecurity businesses into fully standalone divisions.
Leadership teams for both divisions have been established, BlackBerry said, adding that it is in talks with a leading external consulting firm with the unit separation in progress.
It added that the company is reducing costs further in the current quarter, with additional layoffs in the cybersecurity business, which is set to provide yearly savings of about $27 million, Reuters reports.
Chelsea will aim to deepen Arsenal's misery in their Premier League clash at Stamford Bridge…
The National Insurance Commission (NAICOM) has given insurance companies a December 31, 2024, deadline to…
Oyo State Governor Seyi Makinde says the opposition Peoples Democratic Party (PDP) will do everything…
The Minister of Power, Adebayo Adelabu, has directed the Transmission Company of Nigeria (TCN) and…
The Nigerian stock market rebounded on Thursday, November 7, 2024, adding N217 billion to investors’…
Victor Osimhen scored twice as Galatasaray inflicted a first Europa League defeat of the season…
This website uses cookies.