Canadian smartphone company Blackberry (
TSX: T.BB,
Stock Forum) has laid off 250 people in Waterloo, Ontario.
The employees were given notice on Tuesday and the company confirmed the news late Wednesday, according to a report by CTV News.
According to the report, Blackberry says the employees worked in a new product testing facility, supporting its manufacturing and development efforts.
The company said these measures will help Blackberry “increase efficiency” and scale the company correctly for new opportunities.
Blackberry is in the midst of trying to recover a stronger position in the highly competitive smartphone market with its new line of phones and operating system. About 5,000 employees were laid off last year in restructuring efforts.
At the company’s annual general meeting earlier this month, CEO Thorsten Heins told shareholders that Blackberry is in the midst of a “complex transition.’’
“We are still in the midst of a major, complex transition of this company , and like most of these transformations….progress can be volatile," Heins said on July 9.
He encouraged investors at the annual meeting to remain patient while the company navigates its plan to become profitable again.