RIM to cut jobs

"RIM, which keeps its books in U.S. dollars, says it earned US$695 million or $1.33 per diluted share for the quarter ended May 28 on $4.91 billion in revenue.

That compared with a profit of $769 million or $1.38 per diluted share a year ago on $4.24 billion in revenue."

So, RIM still makes 700 million profit but because it was lower than projected it means they have to lay off people? The philosophy that unless profit grows every 1/4 from the year before you are failing is a misguided notion. Corporate greed is psychotic.

This is bad news for Waterloo. Looks like another generation of Canadians will head south to start their tech careers.

RIM to cut 2000 of it's 19000 employees. It amounts to 11%.

Seems like Samsung has taken the lead in smartphones.

This is not surprising at all. Ask anyone with a Bold 9780 if they find it shocking.

Had problems with RIM not being able to fix my Bold 9700, which could not make calls at all. Phone kept coming back unrepaired, and this went on for months. Called RIM and they told me they don't offer customer service at all for their phones when purchased through a carrier. Nothing, no one to talk to at RIM about any issues with their phones.

Posted on the RIM site, and their advice was buy a back up phone. wtf

After dealing with RIM, was thinking they're going to have a tough time competing in today’s market, and looked at shorting RIM. Wish I had followed through...

These people that get shown the door now are the lucky ones. They get a package. The other poor saps that stay to the bitter end get NOTHING.

Oh, and by the way, don't bother looking for a job in the same field. The goverment is full of bullshit when they say in waterloo you just have to walk across the street to get another job if you are an engineer. The govt is so incompetent and full of shit it's a wonder they get away with it.

For your next employment opportunity, may I suggest 'labour-ready'. I think they're always hiring. You get to do stuff like throw bricks around, take lumber up ladders, dig holes, take up a floor........
and believe it or not, that's the best job you're going to find.