On Friday, BlackBerry announced the devastating news that it is relinquishing nearly 40% of its workforce and taking a massive loss of close to $1 billion in its second quarter.
By BlackBerry's own admission, the failure of the BlackBerry Z10 is the primary reason for the somber news that close to 5,000 people will be losing their jobs.
The loss is mainly the result of a write-off of unsold BlackBerry phones, as well as $72 million in restructuring charges. The company said that it would discontinue two of the six phones it offers.
"Going forward," he added, "we plan to refocus our offering on our end-to-end solution of hardware, software and services for enterprises and the productive, professional end user. This puts us squarely on target with the customers that helped build BlackBerry into the leading brand today for enterprise security, manageability and reliability.”
Source: New York Times