Tuesday, July 10, 2012

RIM to sell corporate jet as part of cost cuts --report | Reuters

RIM to sell corporate jet as part of cost cuts --report

  • Link this
  • Share this
  • 0diggsdigg
  • Email
  • Print
  • Related Topics

    Stocks

     
    Research In Motion Ltd
    RIM.TO
    $7.87
    +0.07
    +0.90%
    19:04:27 IDT

    Research In Motion Ltd
    RIMM.O
    $7.73
    +0.06+0.78%
    19:04:27 IDT

    July 10 | Tue Jul 10, 2012 6:26pm IST

    July 10

    (Reuters) - Research In Motion Ltd will sell one of its two corporate jets as part of an effort by the embattled smartphone maker to save $1 billion in annual costs throughout its operations, a report said on Tuesday.

    The BlackBerry maker has put its nine-passenger jet up for sale, looking to fetch some $6 million to $7 million, Bloomberg News reported, citing unidentified sources with knowledge of the matter. RIM will hold on to its 14-passenger jet.

    A company spokesperson was not immediately available to comment on the story.

    Overall, Waterloo, Ontario-based RIM is looking to save some $1 billion in operating costs this year through efficiencies, including layoffs, as its BlackBerry smartphones loses market share and losses mount.

    • Tweet this
    • Link this
    • Share this
    • Digg this
    • Email
    • Reprints

     

    We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
    Comments (0)
    Be the first to comment on reuters.com.
    Add yours using the box above.

    Ads by Google

    Luxury Private Jet Rental
    Prices start at $1,550 per hourSpecials TODAY 866-538-8463
    BlueStarJets.com

    HostGator™ Web Hosting
    $3.96 - Unlimited Space & BandwidthHost Your Site With Us. Free Setup!
    www.HostGator.com

    Granite Headstones $49
    Engrave a photo in black granite.Outdoor use. Free Shipping.
    PlaqueMaker.com/Headstone

    SEARS® Cooling & Heating
    18 mo no interest, up to $1350 off!Schedule your free estimate.
    SearsHomeImprovements.com