According to a report from CBC News, Research In Motion could be looking to cut thousands of jobs as early as this week. The report from CBC cites “published media reports” as confirming that RIM will be announcing “major cuts” to its workforce when the company’s fiscal quarter ends. That means we could be seeing layoffs as early as this Friday.
With an ever-shuffling board at the top and job cuts expected, this could be RIM’s last ditch effort to turn its fortunes around. Some might say that the process is merely rearranging the deck chairs on the Titanic, with the Waterloo company’s fortunes looming like an iceberg on the horizon.
Obviously RIM will be looking to investors to give it the thumbs-up after the cuts and resignations, but they’ll have to do a better job at proving that the moves are actually going to help. The cuts need to be seen as part of a long-term strategy for the company, but if there is no “long-term” in RIM’s futures…well, you can see the difficulty.
According to some analysts, RIM could be slashing anywhere between 2,000 and 6,000 jobs. Cuts could theoretically be rolled out over the next few months to ease impact.
Also in the mix is the future of BlackBerry 10, the upcoming operating system that is expected to launch in the fall. If the O/S stumbles, the fortunes of RIM could be sealed for good. And given how the PlayBook and other RIM “make or break” ventures have worked out in the past, it wouldn’t be wise to hedge one’s bets on BlackBerry 10’s success. There is very little investor confidence and the tech industry hasn’t exactly been supportive either, leaving RIM to fend for itself through a range of difficulties.
With each passing news day, it’s beginning to look more and more like RIM will crumble. The question appears to be a matter of when, not if, the company folds up its doors and ships off into the wild blue yonder. It will be another sad tale of Canada’s diminishing industry leaders, lending more credence to the theory that the Great White North’s once enviable position on the world stage is sliding away piece by piece.