Turnaround Time for RIM?

RIM's execs have announced that they have slashed their salaries to $1 (assumed to be Canadian) after a year of disaster piled on top of disaster for the company.  Delays in the Blackberry 10 smartphone and the low sales of the Playbook didn't help, either.

The slashing may be symbolic, but it could mean that the execs want to turn the company around.  Playbook OS2.0 is in development and will be aimed at businesses already using Blackberries, and the new Blackberry is just waiting for energy efficient chips.

–Scott D

  • http://www.stevensavage.com/ Steven Savage

    This is not unheard of – it looks at least like a rallying attempt if anything else. Still I just can’t see RIM making it – too limited, too unsure, too much bad blood.

  • Scott D.

    They haven’t hemorrhaged employees like Nortel did in its death throes. However, next year looks like it’ll be critical for the company.

  • http://profile.typepad.com/genjipress Serdar (Genji Press)

    No bets. Unless they pull an Apple and somehow whip out some absolutely killer property…

  • http://profile.typepad.com/tamara126 Tamara Hecht

    If you can slash your salary to one dollar, then that means you can live for two years on what you paid yourself for one year. That’s a red flag, not a white one.

  • http://www.stevensavage.com/ Steven Savage

    Tamara just called it brilliantly. If they’re doing this now it means that they may have been vastly overpaid.