BlackBerry expects more job cuts, plans to profit by Q4 2025

A notorious Waterloo-based tech company is looking to turn their earnings around.

BlackBerry held an investor briefing Tuesday morning revealing the actions it is taking to return to positive cashflow by the end of the 2025 fiscal year.

After BlackBerry reported a loss of $21 million last quarter, the company cut 200 jobs. BlackBerry stated that the job losses will save the company $50 million per year.

The company is also in the midst of seperating two of its divisions into standalone businesses. “Material progress” has been made towards establishing the Information of Things (IoT) and Cybersecurity divisions. That includes a number of appointments in leading roles.

BlackBerry also declared that it has identified ways to save $55 million of the $100 million yearly target and those actions will take place this quarter.

More job losses are a part of that plan and they’re expected in the cybersecurity department. There is no concrete number, but BlackBerry forecasts annualized savings of $27 million dollars.

BlackBerry is also exiting six of its 36 global office locations, helping to save about $7 million per year.

CEO John J. Giamatteo said the company is fully focused on its goals.

“We’re directing our resources where we believe we can maximize returns and continue to delight our customers. Our balance sheet is solid following the refinancing and we believe BlackBerry is well-positioned to execute on our strategy.”