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RIM Announces Loss in Net Income, Layoffs Coming

By Alvin Soon - on 17 Jun 2011, 10:21am

RIM Announces Loss in Net Income, Layoffs Coming

All's not good in the land of RIM, as their latest earnings call reveals some sobering news. From This is My Next:

Net income is down roughly 10 percent over the same quarter last year — $695 million versus $769 million — and it’s down some $239 million from the quarter prior (though fourth quarters typically perform unusually well thanks to the holiday shopping season). In light of the downturn, the company is announcing a “cost optimization program” that’ll include layoffs and a “realignment” to focus on high-growth areas of the company.

Read more about the state of RIM over at This is My Next.