Blackberry is the latest tech company to announce layoffs within the company in a move to streamline costs as it prepares to split two of its business divisions. The former phone maker, now specializing in software, laid off as much as 200 jobs to save costs during the last quarter.
But Blackberry is not done with workforce reductions just yet as the current quarter will see even more layoffs in its cybersecurity business. This division is expected to generate annualized savings worth $27 million.
In addition to job cuts, BlackBerry Ltd. is implementing further cost-saving measures, such as discontinuing operations at six of its 36 worldwide office sites.
The company has outlined its plans to achieve positive cash flow by the fourth quarter of its 2025 fiscal year. BlackBerry disclosed a loss of $21 million for its third quarter, which concluded on November 30th.
Blackberry, once known for making iconic business-grade smartphones, stopped making its handsets in 2016 after it licensed its brand name to partners. The company also attempted making Android phones as part of its Dtek series.
Some honorable mentions of the latest Blackberry phones include the Key2 LE, which, as the name says, includes a physical keyboard for easier typing, which is something the brand is known for. Meanwhile, the Blackberry Evolve X came out in 2018 with Android OS and no physical keyboard, but it has a carbon fiber textured finish on the back, staying true to the brand’s design language.
