Friday
Sep202013
BlackBerry lays off 4,500 employees as stock trading is halted
Friday, September 20, 2013 at 4:58PM
Updated on Friday, September 20, 2013 at 8:09PM by
Gadjo Cardenas Sevilla
By Gadjo Cardenas Sevilla
Troubling news coming out of Waterloo today. BlackBerry has announced it will cut 4,500 jobs across its operations and will report a second-quarter loss of $950 million. As a result of this news, trading of BlackBerry stock was halted Friday aftertoon pending the revised outlook. Shares for BlackBerry were dowb more than 17 per cent at the close of trading at $8.73.