Canadian cybersecurity firm BlackBerry has set a target of an additional $100 million in annual profit. The labor force of the organization is under pressure to achieve this profit. In the meantime, BlackBerry has announced to take various steps including reducing the workforce. News Reuters.
Authorities recently announced plans to cut costs by $50 million annually as part of new targets. In this case, about 200 workers will be retrenched soon. This plan will be implemented in the current quarter (December-February). In addition, six of the 36 global offices will be closed to save money.
The company said, it expects to return to positive cash flow by the fourth quarter of fiscal year 2025. In addition, BlackBerry reported a loss of $2.1 million in the third quarter ended November 30 last year.
The company scrapped plans to move its Internet of Things (IoT) business to IOP last December. The company now aims to make businesses completely independent.
