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200 job cuts at RIM

WATERLOO, Ont. – Two-hundred job cuts have been confirmed at Research in Motion, just days after revealing disappointing earnings.

RIM has not given any details about the layoffs, only reiterating what was said after its earnings that it was launching a cost-optimization program, otherwise known as streamlining.

The Kitchener-Waterloo Record reported RIM is focusing on removing redundancies and reallocating resources toward the highest growth opportunities and new product introductions.

The company employs over 17,000 people.

With RIM shares now trading at the lowest level since 2006, down from a peak market value of $80 billion to just $14 billion, investors are clamouring for change, which could lead to a takeover.

BMO Harris Private Banking said RIM may attract offers from Microsoft or Dell, offering an iconic brand and a strong corporate clientele.