Although it was widely expected that Research In Motion's (RIM) Q1 2012 report wouldn't be pretty, the bombshells in which the company dropped were certainly rattling to say the least.
The company has decided to cut 5,000 jobs (30% of its global workforce), and has revealed that its forthcoming BB10 devices now won't be available until early 2013. BB10 was expected to arrive by year's end.
As for the job cuts, RIM expects that to cost US$350 million in the current fiscal year. What's more, it has committed itself to ridding itself of US$1 billion in operating costs during the same period.
Additionally, RIM posted a US$518 million GAAP net loss for the quarter ended June 2, the largest loss that the company has ever experienced. RIM's GAAP net loss for the previous quarter was US$125 million. Meanwhile, revenues for the quarter came in at US$2.8 billion, down 33% compared to the previous quarter.
The company moved just 7.8 million BlackBerry smartphones globally during the year.