RIM cuts 200 jobs in Waterloo, report says

Unfortunate news today. Reports today reveal that Waterloo-based Research In Motion has started their “headcount reduction” by letting go of 200 employees. In total there are over 17,500 employees, but 9,000 are located in Waterloo. While 200 may not seem like a big number when compared to the total number of employees… this is not good for RIM, nor the affected families or the Canadian economy. RIM announced last week that they’ll “streamline operations” and cut an unannounced number of jobs. The plan is that this “Cost Optimization Program” will get back on track to focus on offering new products/services that have the “highest growth opportunities”.

Source: Globe