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Research in Motion to Cut 2K More Jobs

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  • Description

    FBN’s Diane Macedo on reports Research in Motion will cut at least 2,000 jobs.

  • Duration 1:42
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Everybody and I would say that who has more businesses where it -- -- -- -- so do we and LaBeouf has filed for Chapter Eleven bankruptcy marking one of the largest law firm failures in US history.

The firm made the move last night after failing to find a partner to merge with.

-- says negative economic conditions along with its partnership compensation arrangements created a situation where its cash flow wasn't enough to cover certain expenses.

Most of -- 300 partners went to other firms over concerns about compensation and the firm's debt.

Do it plans to ask about ninety employees to remain on staff to help with the liquidation which it expects to be completed in the next few months.

More job cuts are reportedly on the way for Research in Motion according to Canada's globe and mail newspaper the Blackberry maker will announce sometime this week.

That it's slashing at least 2000 jobs but that number could climb to 6000.

These latest cuts would be addition to the 2000 the company made last July.

A number of high level employees have also left -- in recent months and a company stock fell to an eight year low of 1059 last week.

The Justice Department is reportedly investigating whether BP executives lied to congress about how much oil spilled.

In -- -- ten deep water horizon rig explosion.

According to the Wall Street Journal the department is looking at statements the company made to congressional leaders.

During a closed door briefing the journal also says prosecutors are looking at whether BP engineers tried to withhold information about the size of the -- The government estimates that of about four point nine million barrels of oil poured it into the Gulf of Mexico.

Following the explosion which killed eleven workers BP told federal officials it believes the amount is two point to 50% less than acting.

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