TORONTO - Poor sales of BlackBerry (TSX:T.BB, Stock Forum) smartphones have forced the company

totake a massive writedown on the devices and slash 4,500 jobs across its operations.

The Waterloo, Ont.-based company delivered the dismal announcement late Friday, which sent its shares

tumbling.

The stock closed down 16 per cent, or $1.74, to $9.08 on the Toronto Stock Exchange.

The company says job cuts will help it halve its operating costs by June 1, 2014.

BlackBerry says it expects to post a loss of US$950 million to $995 million when it reports its second-quarter

earnings next Friday.

Most of that will come from a massive writedown of up to $960 million it will take from poor sales of its new

smartphone devices earlier this year.

It will also book a $72 million restructuring charge related to changes in its operations, which include previous

layoffs.

BlackBerry also disclosed Friday that it will simplify the number of phones it offers, reducing the portfolio to

four devices from six.

Half of the lineup will be marketed towards higher-end consumers, while the other two will be for entry-level

customers, it said.

Read more at http://www.stockhouse.com/News/Business-News/2013/09/20/Balckberry-(T-BB)-announces-

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