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Las Colinas-based BlackBerry To Lay Off 40 Percent Of Global Workforce

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BlackBerry says it will lay off 4,500 employees, or 40 percent of its global workforce, as it reports a nearly $1 billion second-quarter loss in a surprise early release of earnings results.

The stock dropped 19 percent to $8.50 after reopening for trading. Shares had been halted pending the news, The Associated Press is reporting.
 
BlackBerry's U.S. headquarters is in Las Colinas.

The company had been scheduled to release earnings next week. But the Canadian company said late Friday afternoon it expects a loss of about $950 million to $995 million for the quarter, including a massive inventory charge due to increasing market competition.
 
The BlackBerry, pioneered in 1999, was the dominant smartphone for on-the-go business people and other customers before Apple debuted the iPhone in 2007. Since then, BlackBerry Ltd. has been hammered by competition from the iPhone as well as Android-based rivals like Samsung.  
 

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Eric Aasen is KERA’s managing editor. He helps lead the station's news department, including radio and digital reporters, producers and newscasters. He also oversees keranews.org, the station’s news website, and manages the station's digital news projects. He reports and writes stories for the website and contributes pieces to KERA radio. He's discussed breaking news live on various public radio programs, including The Takeaway, Here & Now and Texas Standard, as well as radio and TV programs in New Zealand and the United Kingdom.