BlackBerry cuts 'end of company as we know it'

Phone company BlackBerry could survive as a much smaller player, an analyst has told Reuters, after it announced that it would cut around 40% of its global workforce.

A persons holds a new BlackBerry touchscreen device which uses a new operating system (BB10). Credit: Anthony Devlin/PA Wire

BGC Partners analyst Colin Gillis said: "This is the end of the BlackBerry as we know it.

"This is a major pivot. They are cutting half of their employees and they're going to focus on becoming a niche player focused on the enterprise."

He added: "The company has sailed off a cliff...What do you expect when you announce you're up for sale? Who wants to commit to a platform that could possibly be shut down?"

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BlackBerry to cut 40% of staff

Phone company BlackBerry has announced it is to make 4,500 employees redundant - around 40 per cent of its global workforce.