‘Losses’ USD 518 million, RIM Will Fired 5000 Employee soon

Research In Motion (RIM) seemed to be in a difficult business conditions. Blackberry manufacturer’s has losses USD 518 million. Until finally, they were ready to fired as many as 5,000 employees.

Massive job losses that will be true RIM has known long enough, and then the company is based in Waterloo, Ontario, Canada said it has reduced the number of positions as part of a program to streamline operations.

RIM has recorded approximately 16 500 employees in early May after cutting about 2,000 workers in July last year.

As quoted from the La Times, Friday (06/29/2012), RIM’s latest financial report states that their market cap ‘shrinkage’ USD 518 million, or U.S. $ 99 cents per share during Q1 of fiscal 2012.

The financial statements also mentioned that RIM their revenue fell 43% to USD 2.8 billion up to June 2, 2012. but the same period in previous year managed to earn USD 4.9 billion.

As a result of the loss is RIM plans to lay off at least 5,000 employees from various positions, and this action will be taken into account at a cost of USD 300 million.

“This is the most challenging period of the previous, and I am not satisfied with the financial condition of the newly reported. But I assure that we will not remain silent,” said Thorsten Heins, President and Chief Executive Officer, Research In Motion.