BlackBerry founders Mike Lazaridis and Douglas Fregin are considering taking over the struggling smartphone company as it searches for a buyer.
In a filing with the Securities and Exchange Commission, Mr Lazaridis said that he and Mr Fregin are looking to potentially acquire the 92%of the shares they do not currently own, either by themselves or with other interested parties.
Canada's Minister for Employment Jason Kenney has said he sympathises with employees of phone company BlackBerry, after it announced it would cut around 40% of its workforce. Canada is one of the countries that manufactures the phone.
BlackBerry Ltd warned that it expects to report a huge second-quarter operating loss next week and that it plans to cut more than a third of its workforce.
The company, which has struggled to claw back market share from the likes of Apple's iPhone, Samsung Electronics Co Ltd's Galaxy phones, said it expects to report a net operating loss of about $950 million to $995 million (£621.1m) in the quarter ended August 31, due to writedowns and other factors.
BlackBerry has officially unveiled its new all-touch smartphone as it ramps up attempts to claw back its share of the market from rivals including Apple.
The Z30 smartphone comes with a 5-inch display and the largest-ever battery to be fitted into a BlackBerry smartphone.
BlackBerry's announcement comes two days before Apple's new iPhone - the 5S - hits shelves on Friday.
New findings from market research firm Kantar Worldpanel ComTech show BlackBerry had been the third most popular operating system (OS) this time last year, but sales have tailed off - now just 3.5% of the market share, down from 11% in Britain a year ago.