Things are grim at RIM
"It is grim at RIM," said Lisa, bartender at an area pub that serves RIM regulars.
"When they come in, you can sense the mood, sense the stress ... They are not friendly, there is no joking or laughing."
The maker of the BlackBerry began Tuesday to hand out layoff notices to some of its 9,000 Waterloo workers, although it was not clear how many jobs were to be cut.
Reports put the number at 200.
Workers at the sprawling RIM Campus, the cluster of buildings that make up the tech industry, refused comment.
"We have been told not to say anything, not to speak to the media, but the mood today is not good," one worker said.
"Really, we do not know anything, they are not telling us anything."
RIM officials could not be reached for comment Tuesday.
In downtown Waterloo, the business sector is watching closely, worried about consumer confidence, and hoping RIM can get back on track.
"It our largest employer, this is huge deal for us. It's not the ones that are laid off, but others who are worrying now, 'Am I next?' said Jodie Swanston, who works in financial services at Forbes Motors.
"Where do the cuts stop?"
On the city's main drag, King Street, Mark Channer, owner of Channer's, an upscale men's clothing store, was more upbeat.
Every great company has endured challenges to emerge stronger and RIM will as well, he said.
"Look at Apple, they almost went under in 1997. RIM will be back. This is not as drastic as everyone says; it's overblown. It will calm down in the next few weeks."
Channer also pointed to the diversity of this region of Ontario, southwest of Toronto, where other technology industries and financial services fuel the local economy strong.
"Waterloo is more diversified than people know. Manulife has 3,500 here, Sun Life another 3,000, we have two universities" and regional head offices for banking and accounting firms, he said.
RIM employs about 17,500 workers globally.
Shares of RIM, which once dominated the business segment of the smartphone market, have dropped about 27% since it revealed dismal quarterly results and lowered its full-year outlook on Friday.
The stock is down more than 50% this year after a series of missteps as it tries to keep pace with Apple Inc and other innovators in the smartphone and tablet computer markets.
"We are all concerned here, obviously these are high-paying jobs, they have money to spend," said Patrick Schmidt, who works at St. John's Music.
3500t In Motion - News
WATERLOO, Ont. - In the bars and restaurants in the shadow of this city's technology giant Research In Motion, a new phrase is ringing out: Grim RIM. At lunch and after work, tables are still filled with the well-heeled workers stepping out,
When you watch a National Geographic documentary on cheetahs and they show you the big cat's run in slow motion, you can see the line from the cheetah's nose to the end of its tail remaining practically flat, always on target, no matter how it turns or
The Locos-in-Motion Border Morris Dancers will stand out from the 3500 other runners at South Park in Darlington as they raise money for Cancer Research. The female members of the Sadberge-based morris dancing group will don full kit of top hats and
Lipizzaner Stallions World Tour ---- The 41st anniversary "Dancing White Stallions" tour features the European draft horses who perform spectacular leaps, jumps, tricks and maneuvers; 3 and 7:30 pm Saturday; Valley View Casino Center, 3500 Sports Arena
An estimated 6000 people attended the event this spring, up from 3500 in the fall during the first Sunday Streets, according to Missoula In Motion. "We want to look at growing," said the group's Alex Stokman. A permanent plaza and walking greenway are
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The Visual Instruction Bureau film library contains some 4500 prints of 3500 sound motion pictures on a variety of educational and informational subjects. ...The English reports
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