Black Berry was once the leading provider of smart phones, with the leading number of sold out mobile phone products. However majority in the business world find it shocking when Black Berry Inc. announced yesterday that they will be going to private with a $4.7 billion deal.
With this fact many are asking if who is the lucky one? According to Black Berry Management, they will sell majority of their share to a Canadian firm "Fairfax Financial" for $4.7 billion.
A public statement says that, Fairfax Financial almost own 10% of the stock and determined to pursue their interest to own majority of the Black Berry share, by offering them a good deal.
On a press conference that was released last Monday, they added that share holder will have $9 per share, while $8.23 for slight premium share holder.
However, a bad news was stated Friday with regards to the cutting off of nearly 4,500 employees to compensate for the $1 billion loss. This breaking news makes the human resources worried, as job opportunities are getting slimmer. "We do not expect this to happen", May Sevilla said, a Black Berry Employee.
But the management emphasizes the importance of their action, as this will create further complication if not imposed. "We will be saving and keep the necessary, to avoid further job loss among our workers, we will be cutting off some, it's the best way that we can make as of the moment" Black Berry group stated.
Other mobile phone manufacturers commented on the said issue, saying that Black Berry know what's best for the company, and knows the best action to take to retain global competency.As of the moment, no further statement was release from the Black Berry Management, "we would like to have a privacy", Black Berry management said.
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