RIM hires J.P. Morgan, RBC to review business
ROB GILLIES
TORONTO — Struggling BlackBerry-maker Research in Motion warned Tuesday that it will have an operating loss in the current March-June quarter and said there will be significant layoffs this year.
RIM said in a release that it has hired J.P. Morgan and RBC Capital Markets to help the company evaluate various strategies, including opportunities to partner with other companies and license software as well as other alternatives.
Waterloo, Ontario-based RIM, a pioneer in the smart phone market, made no mention of a sale of the company but new chief executive Thorsten Heins did not rule it out after RIM’s last earnings were released in late March.
RIM’s stock was halted in after-hours trading Tuesday. When trading resumed shares fell more than 10 percent, or $1.20, to $10.03.
The once-iconic BlackBerry company is facing the most difficult period in its history.
