Blackberry continue their cost cutting ways as they look to sell up to 80% of their Waterloo facilities

by Andrew Roach on January 23, 2014

There has been very few areas that have not escaped Blackberry’s massive cutbacks over the past few months which has seen staff, devices and services ended to try and make the company profitable.

It seems that the smartphone manufacturer isn’t done just yet though as the company announced that they were planning to sell off most of their properties in Canada.

This includes getting rid of nearly 80% of the sites that they have in their home base of Waterloo with the sale thought to include the building that houses many of their top operations.

The move comes as yet more questions are raised about Blackberry’s future as they try to realign the company back towards the business and corporate world.

Perhaps the most shocking thing about the announcement is just the grand scale on which the sale will cover as it will
see the company selling of around 80% of their sites in Waterloo alone.

This would include their head operations office and product development sites at the Ottawa, Cambridge and Northfield Campuses.

It’s a stat that will eventually put 3 million sq. ft of real estate on the market for other owners to buy and would give the company a much needed cash injection boost for the coming year.

The move follows up on Blackberry’s deal with the University of Waterloo last year when the firm agreed to sell five buildings to the institution for $41m back in December.

After the announcement, many people have started speculating whether Blackberry will remain in Canada for the long-term future or move overseas where lease sites are cheaper to operate.

However, Blackberry senior officials are adamant that the firm isn’t going anywhere and that the smartphone manufacturer will remain in their home and for years to come. This was emphasised in comments made by CEO John Chen who told the press: “BlackBerry remains committed to being headquartered in Waterloo and having a strong presence in Canada along with other global hubs”

There’s no doubt that the sale will be yet more for concern about the future of Blackberry in the country but many tech enthusiasts will be hoping that all these dramatic cuts will soon start to help the ailing company turn their fortunes around once and for all.

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