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BlackBerry lays off 120 employees in Waterloo as part of cost cuts
WATERLOO, Ont. – BlackBerry (TSX:BB) has laid off 120 employees in its product development and wireless technology divisions, the company said Monday.
The cuts — part of plans announced last year to lower expenses partly through workforce reductions — were centred at its headquarters in Waterloo.
“BlackBerry is working hard to return to profitability and we continue to optimize our resources to meet our mandatory operational targets,” the company said in a statement.
“We recognize our local employees’ hard work on behalf of our company and the difficulty of this news.”
BlackBerry shares were down 26 cents to $10.06 Monday afternoon on the Toronto Stock Exchange.
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