5 Companies That Had A Rough Week

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BlackBerry Reportedly Readying Massive Layoffs

The news just keeps getting worse at BlackBerry. This week The Wall Street Journal reported that the Waterloo, Ontario-based mobile device maker is preparing to lay off up to 40 percent of its staff in order to cut costs. The report said the cuts would be widespread throughout the company.

BlackBerry, which has 12,700 employees, has been struggling to turn itself around in the face of punishing competition from Apple's iPhone and Android-based smartphones. The latest news follows reports that the company has put itself up for sale with the goal of being acquired as soon as November.


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