BlackBerry lays off staff in bid to return to profit

BlackBerry is actively restructuring and has announced 120 layoffs; this round of layoffs is still part of the company's ongoing cost-cutting measures, and most of those affected are in the product development and wireless technology departments at its headquarters in Waterloo, Ontario, Canada.

BlackBerry said last year that it would reduce expenses, partly by cutting 40% of its workforce.

In a statement, BlackBerry said it is currently working hard to return to profit and will continue to make good use of its resources to meet its own operating targets.

The statement also said that BlackBerry understands the contributions the laid-off employees made to the company and the difficulties they face afterward.

In addition to cutting expenses through layoffs, BlackBerry is also trying to develop new business customers to increase revenue. In December last year, BlackBerry sold several buildings to the University of Waterloo for 41 million Canadian dollars. The sales contract also allows BlackBerry to lease back several buildings in the future for a term of up to 5 years.

Earlier this month, BlackBerry also sold its premises in Irving, Texas, USA, to Brookfield Property Group for an undisclosed amount. Although BlackBerry sold its U.S. headquarters, it will lease back part of it in the future.

BlackBerry is scheduled to release its fourth-quarter financial report on the 28th. BlackBerry shares fell 19 cents on the Toronto stock market to close at 10.13 Canadian dollars.