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

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Deeko

Deeko

Lifer
Jun 16, 2000
30,213
12
81
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.
 
DivideBYZero

DivideBYZero

Lifer
May 18, 2001
24,117
2
0
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- Phones are out of date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
 
shortylickens

shortylickens

No Lifer
Jul 15, 2003
80,287
17,081
136
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.
Click to expand...

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.
 
yllus

yllus

Elite Member & Lifer
Aug 20, 2000
20,577
432
126
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.
 
gsaldivar

gsaldivar

Diamond Member
Apr 30, 2001
8,691
1
81
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..."
Click to expand...

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?
 
Pliablemoose

Pliablemoose

Lifer
Oct 11, 1999
25,195
0
56
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...
 
G

Genx87

Lifer
Apr 8, 2002
41,091
513
126
2 CEO's, 3 COO's. Hard to imagine why this company has completely failed to adjust to market realities.
 
gsaldivar

gsaldivar

Diamond Member
Apr 30, 2001
8,691
1
81
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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prism

prism

Senior member
Oct 23, 2004
967
0
0
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.
 
Pliablemoose

Pliablemoose

Lifer
Oct 11, 1999
25,195
0
56
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...
 
M

Mopetar

Diamond Member
Jan 31, 2011
8,474
7,708
136
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.
 
S

Suspicious-Teach8788

Lifer
Feb 19, 2001
20,155
23
81
lol love the diehard fanboi who comes in to save his company. worse than the phandroid propaganda trucks we have and the apple sheeple on this board.
 
Pliablemoose

Pliablemoose

Lifer
Oct 11, 1999
25,195
0
56
DivideBYZero said:
That's as close as anyone can get to you admitting your full of it, so I'll take it. :D
Click to expand...



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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foghorn67

foghorn67

Lifer
Jan 3, 2006
11,883
63
91
DLeRium said:
lol love the diehard fanboi who comes in to save his company. worse than the phandroid propaganda trucks we have and the apple sheeple on this board.
Click to expand...

How is this equivalent to a fanboi? So not being cynical is being a fanboi?
 
foghorn67

foghorn67

Lifer
Jan 3, 2006
11,883
63
91
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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