Global Operations: BlackBerry

BlackBerry: In an announcement late Friday the Waterloo, Ont.-based company said it will report sales of about $1.6 billion U.S. for the fiscal second quarter ended Aug. 31 well below the forecast for $3.06 billion. Half of that revenue was derived from services, according to The Star. BlackBerry said it will cut 4,500 jobs throughout its global operations, bringing its workforce to about 7,000, and expects to post a net operating loss of between $950 million and $995 million U.S. for the quarter and BlackBerry Ltd. says it will post a quarterly loss of nearly $1 billion U.S. and slash more than one-third of its global workforce as it focuses on business and high-end professional markets. Its shares plunged 23.3 per cent to $8.34 Canadian , a year low, after trading resumed following a 35-minute halt. (www.immigrantscanada.com). As reported in the news.