RIM to Cut 2,000 Jobs
The struggles of Canadian communications giant Research In Motion (RIM) continue as the QMI Agency reports that the Waterloo, Ontario-based company will lay off around 2,000 workers, which accounts for 11 percent of its workforce. RIM has 9,000 employees in Waterloo and 17,500 globally.
The news came two weeks after RIM’s annual general meeting, where, according to QMI Agency, Co-chief executive Jim Balsillie “tried to ease shareholders’ concerns about plummeting stock prices, a declining North American market share and increased competition from Apple and Google.”
This new announcement of 2,000 job cuts is actually RIM’s second round of layoffs in 2011. Back in June, RIM ended around 200 jobs at its Waterloo headquarters.
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