BlackBerry warns of job cuts, weak 2Q

Smartphone maker BlackBerry warned investors last week it expects to post a second-quarter loss of nearly $1 billion, and would be laying off roughly 40 percent of its workforce, according to Fox News.

The profit warning and cost-cutting moves come as BlackBerry attempts to find a suitor to acquire its business after falling behind Apple and Google.

The company is estimating revenue of $1.6 billion, below projections of $3.11 billion.

Read more at Fox News.