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BlackBerry lays off 120 employees in Waterloo as part of cost cuts

Blackberry’s offices in Waterloo, Ont.

Matthew Sherwood/The Globe and Mail

BlackBerry Ltd. has laid off 120 employees in its product development and wireless technology divisions, the company said Monday.

The cuts – part of plans announced last year to lower expenses partly through work force reductions – were centred at its headquarters in Waterloo.

"BlackBerry is working hard to return to profitability and we continue to optimize our resources to meet our mandatory operational targets," the company said in a statement.

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"We recognize our local employees' hard work on behalf of our company and the difficulty of this news."

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