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RIM cuts jobs as part of a $1 billion cost-cutting move

22 Jun 2012 12:00 AM | Anonymous

Research in Motion has started to cut jobs as part of a move to save $1 billion thorough cost cutting by 2013. The company has suffered in a competitive market in keeping pace with companies such as Apple and Google.

A statement from RIM released on Wednesday did not specify the numbers of positions to be cut or from which locations. RIM is set to release first-quarter earnings from this year on June 28.

The company reported $123 million net loss from the fourth-quarter of 2012. Recent news has seen RIM ex-executives Mike Lazaridis and Jim Balsillie receiving $12 million in exit payments.

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