BUSINESS

Blackberry to lay off 4,500 workers after losing $1 billion in 2nd quarter

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(AP/WJLA) - Research in Motion, the parent company of Blackberry, will layoff 4,500 workers, the company announced today, after losing $1 billion during the second quarter of 2013.

The news comes after trading of Blackberry shares were stopped suddenly Friday afternoon, CNBC says, pending the news of the layoffs and massive loss.

The layoffs represent 40 percent of Blackberry's global workforce.

At the time that trading in shares of BBRY was halted, its stock price was at $10.27 per share, which was down 2.38 percent for the day.

Shares in Blackberry and its parent company, Canada-based Research in Motion, have retreated by 44 percent from its 52-week high of $18.32, which it reached in January.

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