BlackBerry

BlackBerry will be cutting more jobs as CEO John Chen continues to tighten up the budget and control company expenditure. In a statement, spokeswoman Kara Yi revealed that some employees will be affected by company turnaround plans, though exact figures were not disclosed.

The statement read as follows:

"As BlackBerry moves into the next stage of its turnaround, we remain focused on driving efficiencies across our global workforce. Our intention is to reallocate resources in ways that will best enable us to capitalize on growth opportunities while driving toward sustainable profitability across all facets of our business. As a result, some employees have been impacted. We know that our employees have worked hard on behalf of our company and we are grateful for their commitment and contributions."

The latest batch follows a round of job cuts back in May, and they come as Chen attempts to bring down company spending and continue with the turnaround strategy, though they weren't entirely unexpected either. BlackBerry CEO John Chen sort of forecasted the cuts during the Q1 2016 earnings call where it was noted BlackBerry would continue to allocate resources to the software side of the business. As part of that move to software, BlackBerry continues to hire in other areas of the company.

Source: Bloomberg