BlackBerry (TSX:BB) has laid off 120 employees in its product development and wireless technology divisions, the company said Monday.
The cuts — part of plans announced last year to lower expenses partly through workforce reductions — were centred at its headquarters in Waterloo, Ontario.
"BlackBerry is working hard to return to profitability and we continue to optimize our resources to meet our mandatory operational targets," the company said in a statement.
BlackBerry shares were up eight cents to $10.21 mid-morning Tuesday on the Toronto Stock Exchange.
