Despite Blackberry’s financial hardships, the Kitchener-Waterloo based company is looking forward
After reaching quarterly losses of approximately US$965 million, BlackBerry has had to face a series of difficult decisions regarding the future of the company.
In addition to dealing with a stagnant inventory of BlackBerry Z10s, the company also faces the task of turning the publicly traded company private – an opportunity that BlackBerry’s primary shareholder, Fairfax Financial, has been quick to seize.
But one of the issues that continues to hit home is Blackberry’s announcement that they plan to downsize their workforce by some 40 per cent, or 4,500 jobs. In past years, the University of Guelph has partnered with BlackBerry to give students the chance to apply for rewarding co-operative opportunities in areas such as software development, hardware engineering, and information technology. With these mass layoffs looming overhead, many are wondering what this will mean for Guelph’s Cooperative Education and Career Services (CECS).
Hundreds of co-op students in Guelph are currently going through the intensive job application process for the Winter/Summer 2014 semesters. Students are able to access job postings through the Recruit Guelph website, and it is there that one will find over 20 technical co-op positions within BlackBerry.
This raises the question: how can BlackBerry plan to cut over 4,500 jobs and still actively search for co-op students?
Laura Gatto, Co-op Coordinator for CECS, offered assurances that regardless of BlackBerry’s current financial state, “they have posted every semester with us regardless of what you see in the media; whether there’s [been] ebbs and flows they have been consistent across the board with very similar entry-level mentoring opportunities for students.”
Having employed 11 computer science and engineering co-op students in the past year, BlackBerry provides a stimulating opportunity for students to work as a part of a team, work within different departments, and network with industry professionals. BlackBerry isn’t letting this crisis affect their relations with the university’s co-op department, something that students and co-operative advisors are incredibly grateful for.
Because of BlackBerry’s overwhelming presence in Kitchener-Waterloo, they have become a major technological hub for companies that are just starting out in the tech world. While many worry about how these massive cuts will affect Kitchener-Waterloo, entrepreneurs have taken precise steps to ensure that the region isn’t a one-company area.
With Google coming to Waterloo, they have provided a major support system for BlackBerry in their time of need, offering them both money and access to technological resources and experts. The two companies will now be able to develop a working relationship, fostering the sharing of innovative ideas and encouraging the development of strategic business relationships.
John Lyman, Head of Partnerships for Google, told the Globe and Mail that “Google heard consistently from tech hubs that they wanted to be part of a larger network, to learn from each other and collaborate on ideas” – and that is exactly what they have done with BlackBerry.
While the media presents the financial reality of the situation at BlackBerry, the consensus is that they are maintaining a positive outlook for the company’s future, and the future of the University of Guelph’s co-op students. In the meantime, Kitchener-Waterloo holds an optimistic attitude for the economic position of the region, especially with the presence of the emerging tech hub. If anything, BlackBerry’s loss has encouraged the company to increase efficiency and productivity, while continuing to strive for success in targeted markets.