A spokeswoman for the Blackberry maker won't confirm if layoffs have begun at the Waterloo-based technology company.
The news comes despite the fact that RIM employees told CTV News that a number of employees were let go around 10 a.m. on Monday morning.
There is word that around 200 people received the notices. The layoffs are said to have happened at RIM Building 8, a manufacturing and testing facility.
Technology analyst Sameet Kanada says the company is "giving two signals to the street, saying next year will be the best ever – with lots of fantastic products, but you're laying off people today."
Last week RIM said it would be performing a "headcount reduction" after profits missed analyst expectations, and the stock continued to decline on the Toronto Stock Exchange Monday.
Technology columnist Marc Saltzman says "This is a huge hit for RIM. I mean their stock hasn't been this low in five years. And so naturally, I'm sure many investors and folks who work at RIM in Waterloo…they're concerned."
In stark contrast to the reported job cuts, RIM's website also lists nearly 100 job opening in Waterloo alone.
With files from The Canadian Press.
