NEW YORK (AP) — Faced with tough competition and falling profits, BlackBerry maker Research In Motion Ltd. is cutting 2,000 jobs as part of a cost savings plan announced last month and is shuffling some senior executives.
The job cuts amount to about 10 percent of the company's work force. The Canadian company said Monday it will notify affected employees this week. It expects to give more information on the layoffs when it reports fiscal second-quarter results on Sept. 15.
Its U.S. shares fell 84 cents, or 3 percent, to $27.07 in morning trading. The shares are close to their five-year low of $25.60, hit Wednesday.
Although BlackBerrys have dominated the corporate …
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