BlackBerry Lays Off 250 More Canadian Employees

BlackBerry confirmed this week that it is laying off another 250 employees.

These most recent cuts will be happening at the struggling company’s headquarters in Waterloo.

During what BlackBerry calls a “period of transition,” the smartphone maker will ultimately lay off 4,500 workers worldwide.

However, arguments are being made that these massive layoffs aren’t all bad and may even help boost Canada’s economy.

Either way, BlackBerry hopes to stage a turnaround with a $1 billion cash injection a new interim CEO.

The company’s market value is current just over $3 billion, down from more than $80 billion in 2008.

Photo: AP