The latest filing from BlackBerry has some more tidbits. Supposedly BlackBerry currently owns about 15% of the office market in Waterloo with 1.6 million square feet. BlackBerry stated in their filing that they are working to cut expenditures by 50% in the next three quarters. Specifically they stated that:
“As we work to our target of reducing expenditures by approximately 50 per cent 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.”
It looks like BlackBerry is seriously downsizing to bring the company back on track.