Trading of BlackBerry Halted Pending News

By Paul Thomson :: 3:35 PM

Shares of mobile phone company BlackBerry have been halted from trading pending release of news from the company.

BlackBerry said in a short statement that it will be going through a restructuring operation that will result in the loss of 4500 jobs.

In addition to the job cuts, the company will post a loss of $1 billion.

Before trading was halted, BlackBerry stock was priced at $10.27, down $0.25 or 2.38 percent for the day.

Rumors are also swirling around a possible sale of the company, but no definitive information has been released in that regard.

The story is developing, and will be updated as details come in.