Jul 25, 2011

Research In Motion lays off 11% employees
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Written by : Tom George| 0 | Business

Via Scoop.itinternetbillboards

Today, we have surprising and sad news for over 2,000 RIM employees that’s affected by it. RIM has just announced that they will be laying off 11% of their employees, which accounts for over 2,000 jobs. In addition to that, RIM’s COO, Don Morrison, will retire and will be replaced by Thorsten Heins.Since the announcement, RIMM’s stock price has fell over a dollar, which is about 4.5%. Not a whole lot of action yet, as it’s only been a few hours, since the announcement. However, what does this mean? Does this mean RIM cannot withstand the fierce competition and rumors are right, RIM is facing major difficulties? Would RIM be the next Palm, a history in the mobile industry? What do you think? Here’s the full press release: Research In Motion Provides Management Update and Details On Cost Optimization Program Waterloo, ON – Research In Motion Limited (RIM) (NASDAQ: RIMM; TSX: RIM) today provided an update on changes in responsibilities amongst the company’s senior management team, as well as additional details about the cost optimization program announced on June 16th. The changes described below are intended to create greater alignment of the organization and to streamline RIM’s operations in order to better position the company for future growth and profitability.
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Tom George

Founder and CEO of Internet Billboards. A futurist and serial entrepreneur, as well as a professional fitness trainer, martial artist, and business strategist. Helped to develop inbound advertising. An avid content curator who enjoys finding those digital gems out there in cyberspace and sharing them with others.
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Tom George

Founder and CEO of Internet Billboards. A futurist and serial entrepreneur, as well as a professional fitness trainer, martial artist, and business strategist. Helped to develop inbound advertising. An avid content curator who enjoys finding those digital gems out there in cyberspace and sharing them with others.

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