BlackBerry plans property sale to reduce costs

October 2, 2013
Workers prepare the podium before the start of the BlackBerry 10 launch event on January 30, 2013 in New York City

BlackBerry is eyeing the sale of office space to cut expenses after posting a nearly $1 billion loss last quarter, a spokeswoman said Wednesday.

"As with any major company, BlackBerry evaluates its on an ongoing basis to ensure the company is optimizing resources," company spokeswoman Lisette Kwong told AFP.

"As we work to our target of reducing expenditures by approximately 50 percent over the next three quarters, that includes optimizing our space.

"Should space become unnecessary for BlackBerry's continued use, we will work with key partners in the community who may need some of our surplus space," she added.

Last week, Blackberry posted a $965 million second-quarter loss, but said it hopes for a turnaround with a planned $4.7 billion buyout by longtime backer Fairfax Financial Holdings, which would take the firm private.

BlackBerry was just a few years ago a leader in smartphones, but has rapidly lost ground to Apple and other manufacturers mainly using the Google Android operating system.

Most analysts are now sounding the death knell, saying the company will likely be broken up and its technologies sold off to other firms.

In financial filings, the disclosed that it will sell off several unnamed "redundant" assets, including real estate properties, plants and equipment.

Explore further: BlackBerry loses $965 million in second quarter

Related Stories

BlackBerry co-founder 'in joint bid talks'

September 21, 2013

One of BlackBerry's co-founders has held talks with private equity firms about making a joint bid for the struggling Canadian smartphone maker, The Wall Street Journal reported Saturday.

Fairfax says it won't abandon BlackBerry bid

September 26, 2013

The head of Fairfax Financial Holdings Ltd. said Wednesday he has every intention of completing the acquisition of BlackBerry, despite doubts that the $4.7 billion deal for the troubled smartphone maker will go through.

BlackBerry unveils new Z30 smartphone

September 18, 2013

Struggling smartphone maker BlackBerry has unveiled its new Z30, touting it as the company's biggest, fastest and most advanced smartphone.

Recommended for you

Swiss unveil stratospheric solar plane

December 7, 2016

Just months after two Swiss pilots completed a historic round-the-world trip in a Sun-powered plane, another Swiss adventurer on Wednesday unveiled a solar plane aimed at reaching the stratosphere.

Solar panels repay their energy 'debt': study

December 6, 2016

The climate-friendly electricity generated by solar panels in the past 40 years has all but cancelled out the polluting energy used to produce them, a study said Tuesday.

Wall-jumping robot is most vertically agile ever built

December 6, 2016

Roboticists at UC Berkeley have designed a small robot that can leap into the air and then spring off a wall, or perform multiple vertical jumps in a row, resulting in the highest robotic vertical jumping agility ever recorded. ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.