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BlackBerry Considering Selling Office Buildings To Cut Expenditures by 50%

 BlackBerry Canada

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.

Via: Globe via MobileSyrup

3 total comments on this postSubmit your comment!
  1. They aren’t selling to get back on track, They are selling because they’re screwed.

    Will everyone except for the CEO, who gets a cool 55 mil.

  2. Haven’t read the whole filing yet, but the part you quoted almost makes it sound like they might be looking to lease/rent it out vs sell it outright.

    Unrelated note: a few days ago I read an article about Motorola opening up an office in Waterloo and looking to hire ‘top talent’. It would be interesting if they not only wound up with former BlackBerry staff, but a former building as well.

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