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30
May
2012

RIM warns of 'significant headcount reductions'

While warning of poor upcoming first quarter results, RIM CEO Thorsten Heins indicated that the company intends to implement significant spending and headcount reductions this year.
“The on-going competitive environment is impacting our business in the form of lower volumes and highly competitive pricing dynamics in the marketplace, and we expect our Q1 results to reflect this, and likely result in an operating loss for the quarter,” said Thorsten Heins, the RIM’s President and CEO.

“While there will be significant spending reductions and headcount reductions in some areas throughout the remainder of the fiscal year, we will continue to spend and hire in key areas such as those associated with the launch of BlackBerry 10, and those tied to the growth of our application developer community”.

Earlier this year the company announced the CORE (cost optimization and resource efficiency) program focused on delivering key operational savings through various initiatives. The financial objectives for the CORE program are targeted to drive USD 1 billion in savings by the end of fiscal 2013.
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