In The Blackberry manufacturer Research in Motion has announced its plan to cut 2,000 jobs as part of a shake-up of its operations. These job cuts would amount to 11% of the Canadian firm's total workforce.
In a related development, the firms chief operating officer, Don Morrison has announced that he is planning to retire. He is going to be replaced by Thorsten Heins, who is currently COO of products at the firm. Heins will now take on an expanded role including products and sales.
In June RIM had lowered profit forecasts and reduced its predictions for the full year. Since the start of the year, the company's share price has fallen by more than 50 percent.
RIM made a net profit of $695m in the three months to 28 May, down from $769m in the same period last year. The company has already announced a cost-cutting programme, which includes job cuts, but had not given full details.
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