BlackBerry closes chapter on restructuring process : internal memo

[Wireless News]

http://l.yimg.com/bt/api/res/1.2/WpKlvHpmLJ0aiUourt9yYA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-08-05T052345Z_1_LYNXMPEA7404I_RTROPTP_2_US-BLACKBERRY-SECUSMART.JPG (http://news.yahoo.com/blackberry-closes-chapter-restructuring-process-internal-memo-052345734--finance.html)By Euan Rocha TORONTO (Reuters) - BlackBerry Ltd has concluded a protracted and painful restructuring process and is back on a growth footing, according to an internal memo to all its employees viewed by Reuters. "We have completed the restructuring notification process, and the workforce reduction that began three years ago is now behind us," said the memo from BlackBerry's Chief Executive John Chen that was sent out on Friday. BlackBerry has shrunk its workforce by roughly 60 percent over the last three years as it attempts to reinvent itself. Chen, who took the reins at BlackBerry roughly eight months ago, has moved rapidly to stabilize the company by selling non-core assets, partnering to make the company's manufacturing and supply chain more efficient, and raising cash via the sale of the company's extensive real estate holdings in its hometown of Waterloo, Ontario.



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