BlackBerry's restructuring process is finally over.
The Waterloo-based smartphone maker shrunk its workforce by 60% over three years in an attempt to reinvent itself following a post-Recession collapse under the competitive pressures of Apple's iPhone and Google's Android.
"We have completed the restructuring notification process, and the workforce reduction that began three years ago is now behind us," reads the memo BlackBerry's Chief Executive John Chen that was sent out over the weekend.
Chen took over from the ousted Thorsten Heins as CEO eight months ago. Under his reign the Canadian company has been laser-focused on the enterprise sector, as well as selling off non-core assets and increasing the efficiency of its manufacturing and supply chain through partnerships. Now BlackBerry may start hiring again.
"Barring any unexpected downturns in the market, we will be adding headcount in certain areas such as product development, sales and customer service, beginning in modest numbers," Chen noted in the memo.
While Chan, a talented turnaround artist, affirms BlackBerry is on its way to profitability and recoovery, he is also realistic about things, admitting that there is "no margin for error to complete BlackBerry's turnaround to success."