Blackberry, the once dominant smartphone maker, will cut up to 40% of its workforce by the end of the year, the Wall Street Journal reports.
The company employed 12,700 people as of March, already down from 17,000 employees two years ago, back when its iconic phones represented 14% of the smartphone market. Blackberry now has less than 3% of the U.S. market, despite the release of two new phones this year.
Blackberry, which has been losing money and subscribers, announced last month that it had formed a committee to explore strategic alternatives, which may include selling the company.