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RIM to lay off 2,000 (~10% of their workforce)

Actually a smart move to do it now - a lot of companies cling to their bloated workforces even after they start to lose money. Shedding some of the workforce now, while they're still making quite a bit of money, is a good decision.
 
My company has done this four times in ten years. It's normal. Some companies do the devil-takes-the-hindmost every year for the bottom 5%.

As RIM has been growing so fast, some less productive employees are able to hide. No more.

Just to save everyone some time, I'll add the usual to the pity-party:

- Phones are out of date
- OMG TWO CEOs!!
- PlayBook Email
- RIM is dying
 
Deeko said:
Actually a smart move to do it now - a lot of companies cling to their bloated workforces even after they start to lose money. Shedding some of the workforce now, while they're still making quite a bit of money, is a good decision.
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Yeah its unpleasant to think about but its usually good business. Get rid of the dead weight and on top of that the leftovers are usually scared and work their balls off.
Laborers grind harder, mid level managers start seeking better ways to innovate and either improve production or cut costs.
 
Yep, as I said in the other thread, this is actually an encouraging sign - a company that's willing to do unpleasant things to get back into fighting form.
 
I find it particularly surprising how much back-slapping the CEOs are doing while they are stuffing their employee's pay envelopes with pink slips...

"...neither of us could have taken the company this far alone and that completing the transition and taking the company to the next level of success and growth is also something neither of us can do alone..."
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Call me silly, but it sounds to me like both co-CEO's should be fired, since by their own admission they are not capable of independently managing the company's growth or "transition".

Deeko said:
a lot of companies cling to their bloated workforces even after they start to lose money. Shedding some of the workforce now, while they're still making quite a bit of money, is a good decision.
Click to expand...

Why not start at the top and replace these guys with a single person who is capable of doing the job?
 
The stock price keeps slipping despite the buy back, sales are poor, and they're laying off staff, all good signs.

Wait, maybe they're not good signs...
 
The denial is strong in this one...

DivideBYZero said:
It's normal. Some companies do the devil-takes-the-hindmost every year for the bottom 5% ... RIM has been growing so fast, some less productive employees are able to hide. No more.
Click to expand...

RW7NL.jpg


2,000 layoffs = Desperate cost-cutting, not performance culling.
 
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Is RIM apparently smart enough to do what it needs to in order to survive? Yes. Is this in any way, shape or form a sign that RIM is actually doing well? Absolutely not.
 
It's only just started...

Give them another 6 months, we'll see more layoffs.

They've gone into panic mode now. Stock price keeps dropping... Nearly 5% today...
 
If the 10% they lay off are the idiot middle managers that were talked about in the open letters from company employees a while back, it'll be a good thing for the company.

Whether they've identified the dead weight or not remains to be seen.
 
DivideBYZero said:
That's as close as anyone can get to you admitting your full of it, so I'll take it. 😀
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Forum members, please correct me if I'm wrong, but I see RIM losing >6% today, and when you do the math, if someone bought RIM at $70, your dollar invested in RIM is now worth about 37 cents.

Anyone else want to check my math? Because I really don't understand what DBZ is talking about.

realitycheck.jpg


This is a company that helped give birth to the modern smartphone that in today's market is losing >50% of it's stock value, and losing marketshare in a market that's growing exponentially....
 
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Pliablemoose said:
Forum members, please correct me if I'm wrong, but I see RIM losing >6% today, and when you do the math, if someone bought RIM at $70, your dollar invested in RIM is now worth about 37 cents.

Anyone else want to check my math? Because I really don't understand what DBZ is talking about.

realitycheck.jpg


This is a company that helped give birth to the modern smartphone that in today's market is losing >50% of it's stock value, and losing marketshare in a market that's growing exponentially....
Click to expand...

So Apple is the only company that can recover from shit value and being stuck in a niche?
 
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