Research in Motion to Shed Jobs Along with Dollars

It is fair to say that these are not the best of times for Research in Motion

. The company behind the Blackberry has slipped so far down the smart phone pecking order now that the product already seems pedestrian and almost dinosaur-like to many consumers who are scrambling for the latest version of the Apple

iPhone. On Tuesday, the company stated clearly that it will be posting an operating loss for the second quarter in succession, and that it will be laying off a significant number of employees this year. As ever, that news shouldn't be taken lightly, and a number of families will be adversely affected during a difficult economic climate. However, desperate times absolutely call for desperate measures, and these are very desperate times for RIMM. The company has brought in J.P. Morgan and RBC Capital to help reevaluate tactics, revisit the drawing board and hopefully will come out at the other end with a strategy to carry the company forward. Apparently, nothing is off the table right now, including partnering with other companies, licensing software, and there are even rumors that a sale might be contemplated. A statement from RIMM said that the company expects, "significant spending reductions and headcount reductions in some areas throughout the remainder of the year." Some analysts are suggesting that RIMM, which has roughly 16,500 employees, will be laying off up to 5,000 people, a tremendous amount. All will become clear over the coming weeks. Following this news, RIMM's stock dropped 7%, or 80 cents, to $10.43. Even before that though, the stock has fallen almost 75% in the last year.