Reuters: Technology News: RIM to sell corporate jet as part of cost cuts: report

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RIM to sell corporate jet as part of cost cuts: report Jul 10th 2012, 12:57 Tue Jul 10, 2012 8:57am EDT (Reuters) - Research In Motion Ltd will sell one of its two corporate jets as part of an effort by the embattled smartphone maker to save $1 billion in annual costs throughout its operations, a report said on Tuesday. The BlackBerry maker has put its nine-passenger jet up for sale, looking to fetch some $6 million to $7 million, Bloomberg News reported, citing unidentified sources with knowledge of the matter. RIM will hold on to its 14-passenger jet. A company spokesperson was not immediately available to comment on the story. Overall, Waterloo, Ontario-based RIM is looking to save some $1 billion in operating costs this year through efficiencies, including layoffs, as its BlackBerry smartphones loses market share and losses mount.

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