UPDATE 15:22 EST: Blackberry Ltd (NASDAQ:BBRY) announced that it was taking a pretax charge of $930-$960 million on its next quarterly earnings. The charge is due to a write down on the company’s inventory of BB10 smart phones, with the Z10 causing the most damage.The company expects to lose between 47 and 51 cents per share in the coming quarter.
The company also announced that it was going to lay off around 4,500 employees. That’s about 40% of the company’s entire workforce.
An earlier version of this article appears below.
Trading of BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) shares have been halted this afternoon with news pending according to the announcement. The company has been up for...
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