RIM to cut 2,000 jobs this week

It’s unfortunately known that beloved Canadian tech giant Research In Motion (RIM) is on a mission to “streamline operations”. This news was announced during their Q1 2012 Fiscal results. The goal was to start Q2 off by eliminating “redundancies and a reallocation of resources”. At first it was 200 people cut from Waterloo, now RIM has sent out a press release titled “Management Update and Details On Cost Optimization Program”. RIM noted in the release that this is “intended to create greater alignment… in order to better position the company for future growth and profitability”. Apart from a number of shifts within management, here are the more intense issues happening at RIM:

RIM states that after their rapid growth over the past 5 year that saw them balloon to 20,000 employees they’ll be handing pink slips to 2,000 employees in North America and “certain other countries”. Everyone who will loose their job will receive severance packages and outplacement support… but more cuts are coming. The next phase of cuts “will occur at a later date” and after all is said and done RIM will end up with an estimated global workforce of 17,000 people.

Source: RIM
Via: MarketWire