Saturday, May 30th11.1°C
26426
25263

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

26181


Recent Trending




Today's Market
S&P TSX15014.09-92.89
S&P CDNX692.45+0.29
DJIA18010.68-115.44
Nasdaq5070.03-27.95
S&P 5002107.39-13.40
CDN Dollar0.8029-0.0017
Gold1204.30+1.50
Oil60.86+2.49
Lumber273.40+0.90
Natural Gas2.83+0.01

 
Okanagan Companies
Pacific Safety0.14+0.01
Knighthawk0.010.00
QHR Technologies Inc1.46-0.02
Cantex0.03+0.00
Anavex Life Sciences0.40+0.00
Metalex Ventures0.07-0.01
Russel Metals25.07-0.13
Copper Mountain Mining1.27-0.03
Colorado Resources0.10+0.00
ReliaBrand Inc0.022+0.009
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.16+0.01
Decisive Dividend Corporation2.28+0.18

 



26471

FEATURED Property
2288565204-3858 Brown Rd
2 bedrooms 2 baths
$199,500
more details
image2image2image2
Click here to feature your property
Please wait... loading


Yard sale pricing

Photo: Thinkstock.comI have deliberately abridged this household tips article to illustrate pricing strategies. "Tips For Pricing Yard Sale Items” was written by Lynnette Walczak, and publi...


What's a robo-advisor?

Photo: ContributedIt can only be attributable to human error. -Hal, 2001: A Space Odyssey For most of us who are within thinking distance of retirement, the term “robo” conjures up image...


Cash stressed seniors

Photo: Thinkstock.comFor many Canadian homeowners, their house represents the biggest portion of their net worth. Now, increasing numbers of seniors are starting to recognize the hidden value of their...

_



25482

26363


Member of BC Press Council


24875