Saturday, August 30th25.5°C
22663
22588

BlackBerry shares down after layoffs, reports that pension plans not interested

TORONTO - Shares of BlackBerry slipped nearly six per cent on Tuesday amid continuing layoffs and reports that a takeover involving Canada's major pension plans is unlikely.

BlackBerry (TSX:BB) shares were trading around $11.30 on the Toronto Stock Exchange on Tuesday afternoon, down 66 cents or 5.52 per cent.

That's after a nearly six per cent surge on Monday amid unconfirmed reports that Fairfax Financial Holdings (TSX:FFH) chairman Prem Watsa was closing in on a rescue deal for the troubled smartphone maker.

The Sunday Times newspaper reported that Watsa has assembled billions of dollars in backing from the Canada Pension Plan Investment Board and other Canadian pension funds to buy the Waterloo, Ont.,-based company.

But the Globe and Mail reported Tuesday that big pension funds have been reluctant to join Fairfax in a buyout consortium.

Meanwhile, BlackBerry has confirmed reports that it has laid off about 60 employees, mostly in sales.

"We are moving a small number of US-focused sales roles that were based in Canada to the U.S. to be more closely aligned with our customers," Lisette Kwong, senior manager of corporate communications, said in a statement.

"We are in the second phase of our transformation plan. As part of this transformation, BlackBerry will continually evaluate its organization — from top to bottom — to ensure we have the right people, with the right skills in the right locations to drive new opportunities in mobile computing."

The Canadian Press


Read more Business News

21623


Recent Trending




Today's Market
S&P TSX15625.73+67.561
S&P CDNX1023.991.62
DJIA17098.4518.88
Nasdaq4580.271+22.577
S&P 5002003.37+6.63
CDN Dollar0.9194+0.0003
Gold1281.70-2.1001
Oil95.96+1.29
Lumber348.40+2.60
Natural Gas3.965+0.054

 
Okanagan Companies
Pacific Safety0.20+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.190.00
Cantex0.08+0.01
Anavex Life Sciences0.25+0.01
Metalex Ventures0.0750.00
Russel Metals36.48+0.09
Copper Mountain Mining2.93+0.02
Colorado Resources0.180.00
ReliaBrand Inc0.10+0.001
Sunrise Resources Ltd0.0250.00
Mission Ready Services0.245-0.005

 



21623

FEATURED Property
2000018400 Mugford Court, Kelowna
5 bedrooms 3 baths
$409,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


At the Core: Lessons in pricing from Apple

Apple has taught many entrepreneurs the importance of design, how to create buzz when introducing new products to the marketplace, how to pioneer new technology and the importance of superior quality....


New Real Estate Brokerage in town

Move over “big guys” there’s a new brokerage in town featuring local expertise, long standing experience and a fresh boutique approach. Kelowna, August 31 2014 – You may have...


How much mortgage should you carry?

There are several things to consider when deciding how much home to buy. 1. Draw up a budget including the new mortgage payments. While the rules used by most lenders require that the mortgage paym...

_








Member of BC Press Council


22854