Canadian company BlackBerry aims to boost its annual profit by an additional 100 million USD as the cybersecurity company cuts costs, including cutting its workforce.
BlackBerry’s new goal is in addition to the announced annual plan to cut costs by 50 million USD and cut 200 jobs in the previous quarter.
The company, which also makes the QNX and IVY platforms used in automotive applications, in December ended plans for an initial public offering (IPO) of its IoT business, but still expects to spin off its IoT and cybersecurity businesses into standalone subdivisions.
The management teams for both divisions are now in place, BlackBerry said, adding that it is in talks with a leading outside consultancy, with the division underway.
BlackBerry added that the company is cutting costs already in its current quarter with additional cuts in its cybersecurity business, which should bring annual savings of about 27 million USD.
