RIM Selling Jet to Help Save $1 Billion
RIM is selling one of its two business nine-passenger Dassault Aviation SA (DSY) F50EX jets as part of a plan to save $1B in operating costs, sources say. The jet itself is expected to bring in only $6 to 7 Million, but the attempted sale shows just how strong the pressure is on the company to do just about anything to mount a turnaround.
“We’re looking at options with both our aircraft costs and finding ways to reduce our travel while still making sure we keep in close contact with our partners around the world,” Waterloo, Ontario-based RIM said in a statement in response to inquiries from Bloomberg. “It’s all part of the effort to find ways to reduce costs and drive efficiencies that Thorsten Heins has talked about.”
RIM has said their goal is to save $1 billion this fiscal year through “significant efficiencies and operating cost reductions.” That includes cutting 5,000 jobs, or about a third of RIM’s workforce, and a number of manufacturing sites.