Ad
Ad
Ad
© jakub krechowicz dreamstime.com Electronics Production | January 23, 2013

Celestica ends RIM production

In June 2012, Celestica announced that it would wind down its manufacturing services for RIM. This as well as the related transition activities were completed by the end of 2012.
Revenue from RIM was minimal in the fourth quarter of 2012 and it represented 12% of the companies total revenue in full year 2012 (full year 2011 — 19%).

Due to the historical significance of RIM to its operations, Celestica said it would take restructuring actions throughout its global network to reduce its overall cost structure.

In July 2012, total restructuring charges of between USD 40 - 50 million were estimated. Current estimates of the total restructuring charges are between USD 55 - 65 million, taking into account additional actions in response to the continued challenging demand environment.

Details on these 'additional actions' were not given.
Ad
Ad
Ad
Ad
Load more news
December 05 2018 3:01 pm V11.10.4-2