BlackBerry Maker Issues Dire Warning, Layoffs Loom

BlackBerry layoffs loom
BlackBerry layoffs loom

By Rob Gillies

TORONTO -- BlackBerry-maker Research in Motion has hired a team of bankers to help it weigh its options as its business erodes in the face of an exodus to the iPhone and Android smartphones.

RIM issued a dire warning about its business Tuesday, saying it is losing money for the second-consecutive quarter and will lay off a "significant" number of employees.