August 5, 2014
BlackBerry on growth footing
Waterloo, ON -- BlackBerry Ltd. has concluded its restructuring process and is back on a growth footing, says the company.
“We have completed the restructuring notification process, and the workforce reduction that began three years ago is now behind us,” says an internal memo from BlackBerry’s chief executive John Chen.
“More importantly, barring any unexpected downturns in the market, we will be adding headcount in certain areas such as product development, sales and customer service, beginning in modest numbers,” says Chen, who personally thanked those that have stayed with the company through the process.
BlackBerry has shrunk its workforce by roughly 60 per cent over the last three years as it attempts to reinvent itself. The company that dominated the smartphone market in its infancy has seen its sales dramatically eroded over the last four years by Apple’s iPhone and a slew of rival devices powered by Google Inc’s Android operating system.
Chen, who took the reins at BlackBerry roughly eight months ago, has moved rapidly to stabilize the company by selling non-core assets, partnering to make the company’s manufacturing and supply chain more efficient, and raising cash via the sale of the company’s extensive real estate holdings.