Apple Looking to Hire BlackBerry Workers

by Istvan Fekete on October 11, 2013

Apple seems to be interested in acquiring BlackBerry talent: just days after the struggling Canadian company announced that it will lay off roughly 40% of its staff, or 4,500 workers, as a direct measure to cut costs, rival Apple has hosted a recruitment drive about 20 kilometres from the tech company’s Waterloo, Ontario headquarters.

The Apple recruitment event was held in the Cambridge Hotel and Conference Centre on September 26, in Cambridge, Ontario. Apple invited BlackBerry talent, with the aim of attracting them to the Silicon Valley.

“Most positions will be based in Cupertino, CA.,” according to a LinkedIn invite sent to certain BlackBerry employees and obtained by the Financial Post. “Relocation and immigration assistance will be provided for candidates that are hired, as needed.”

BlackBerry executives aimed high with the launch of the BlackBerry 10 platform and smartphones introduced earlier this year. However, the real world of the consumer market reacted differently, which pushed BB stock prices down and caused an outrage among stock holders.

Earlier in September, BlackBerry was on the edge of disaster. On September 20, the smartphone manufacturer, once the Canadian start of the smartphone market, said that it expects to post almost $1 billion in losses.

Since then there has been some good news as well, with FairFax reportedly placing a $4.7 billion bid to acquire the struggling company. FairFax is currently BlackBerry’s biggest single shareholder, owning about 10% of the company stock.

Other parties such as SAP AG, Cisco Systems, and Samsung Electronics have reportedly been approached by BlackBerry advisers, but according to people familiar with the matter, these parties are only interested in acquiring parts of the company.

This lead to whispers that BlackBerry would consider an eventual breakup, as investors are losing faith in the FairFax bid.

In fact, breaking up the company has multiple advantages in terms of obtaining more money than the company is worth now. This could mean that interested parties can bid freely on the parts they are interested in, not the full package.

In other words, capitalism doesn’t forgive, and it is business as usual.

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Written by: Istvan Fekete. Follow by: RSS, Twitter, Facebook, or YouTube.

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