Blackberry maker to cut 5,000 jobs


Research In Motion posted a fiscal first-quarter net loss today and said it would cut 5,000 jobs as its BlackBerry smartphone shipments fell sharply for a second straight quarter.

Its adjusted net loss was $192 million, or 37 cents a share, in the three months to June 2nd.

Revenue declined 33 per cent to $2. 8 billion.The company had warned it would post an operating loss but had not provided specifics.

A year ago RIM reported net income of $ 695 million, or $ 1.33 a share, on sales of $4 .91 billion.

Shares of RIM, which have dropped about 70 per cent over the past year, were halted soon after the close of regular US trading hours.