A report in the Wall Street Journal doesn’t paint a good picture for BlackBerry. According to the report are two things that should make investors type “sell” into their iPhones today:
As part of its restructuring, the company is planning to cut more jobs across middle management in the sales and support divisions, say people familiar with the matter, on top of the 5,000 layoffs last fiscal year.
Part of the latest cuts included Richard Piasentin, the company’s vice president for sales in the U.S., who was fired last month, these people said. A BlackBerry spokesman confirmed that Mr. Piasentin is no longer with the company, but declined to comment on layoffs.
Hmmm…. That’s not good. The fact that the guy who headed their US sales operations is “no longer with the company” is a tacit admission that the Z10 and Q10 isn’t gaining traction there. The fact that more job cuts are on the table shows that BlackBerry is in deep trouble. Investors seem to be thinking along these lines as BlackBerry Stock is down over 4% as I type this.
For Thorsten Heins sake. I hope his three point plan that he discussed yesterday at the BlackBerry AGM shows some results quickly. Otherwise, he’ll have a very short lifespan as CEO. Not to mention that the company will have a equally short lifespan.
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This entry was posted on July 10, 2013 at 10:40 am and is filed under Commentary with tags BlackBerry. You can follow any responses to this entry through the RSS 2.0 feed.
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Report: BlackBerry US Sales Head Axed, More Job Cuts On The Way
A report in the Wall Street Journal doesn’t paint a good picture for BlackBerry. According to the report are two things that should make investors type “sell” into their iPhones today:
As part of its restructuring, the company is planning to cut more jobs across middle management in the sales and support divisions, say people familiar with the matter, on top of the 5,000 layoffs last fiscal year.
Part of the latest cuts included Richard Piasentin, the company’s vice president for sales in the U.S., who was fired last month, these people said. A BlackBerry spokesman confirmed that Mr. Piasentin is no longer with the company, but declined to comment on layoffs.
Hmmm…. That’s not good. The fact that the guy who headed their US sales operations is “no longer with the company” is a tacit admission that the Z10 and Q10 isn’t gaining traction there. The fact that more job cuts are on the table shows that BlackBerry is in deep trouble. Investors seem to be thinking along these lines as BlackBerry Stock is down over 4% as I type this.
For Thorsten Heins sake. I hope his three point plan that he discussed yesterday at the BlackBerry AGM shows some results quickly. Otherwise, he’ll have a very short lifespan as CEO. Not to mention that the company will have a equally short lifespan.
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This entry was posted on July 10, 2013 at 10:40 am and is filed under Commentary with tags BlackBerry. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.