Hi all,

FYI. Tactful to the end, they are calling them "headcount reduction", in place of layoffs. Makes me think of Reagan saying Revenue Enhancements place of tax increase!

Please use the link to read the rest of this article.

Take care,

Jay

RIM to cut jobs
CBC News Posted: Jun 16, 2011 4:40 PM ET Last Updated: Jun 16, 2011 5:42 PM ET

RIM to cut jobs - Business - CBC News

Shares in Waterloo, Ont.-based Research In Motion fell Thursday after it announced it was planning job cuts as it reported first-quarter revenue and earnings that didn't meet analysts' expectations.

The company posted quarterly revenue of $4.9 billion U.S. and earnings per share of $1.33. Analysts had expected revenue of about $5.15 billion and earnings per share of $1.32. RIM reports in U.S. dollars.

In after hours trading in New York, its stock was trading down $5.57, or 15 per cent, to $30.01 US.

The company was not specific about how many positions would be cut in what it called a "headcount reduction."