After two quarters of heavy losses, that too with no clear end in sight to its problems, the BlackBerry smartphone and tablets developer Research In Motion Ltd’s stock has now been trading near a nine-year low. This Canadian telecommunication and wireless device company which has announced disappointing quarterly earnings, two weeks ago, now plans to cut almost 30% of its workforce which totals almost 5000 jobs, and is selling one of its fleet of two corporate jets as parts of frantic efforts to find ways to reduce costs, drive efficiencies, and to save almost $1 billion in annual costs throughout its operations. The company is however seriously looking to sell its nine-seater executive Dassault Falcon 50EX jet, and is expecting to fetch some $6 million to $7 million from the sale.
After selling this mid-range Dassault Falcon 50EX jet, the tech-giant Research In Motion will be left with one 14-passanger Dassault F900EX, a longer ranger aircraft. However, there is no word on the concerned person responsible for the sale as for now, as the sale hasn’t been completed yet.
As said by the company’s CEO Thorsten Heins, “We're looking at options with both our aircraft costs and finding ways to reduce our travel while still making sure we keep in close contact with our business partners around the world."
Talking about the F50EX jet on sale, it cost about $2.1 million per year to run based on the hourly flying cost of $3400, whereas the larger jet F900EX cost about $2.2 million in annual operating costs. Built in 1999, this 9-passanger jet features beige leather interior, high gloss Swiss woodwork and gold-plated hardware.
Also, this cost cutting has resulted in the delay of the first BB10 smartphone until the first quarter of next year, which literally means that the launch will be at least a year late than originally expected.