RIM is to cut around 2,000 jobs and carry out a management reshuffle as the company looks to bounce back after a disappointing first quarter in which shares plunged by 15 per cent.
The job cuts were expected after RIM's Q1 earnings report referred to a Cost Optimisation Program', and are seen as "a prudent and necessary step for the long-term success of the company", according to RIM.
"[The job cuts] follow an extended period of rapid growth within the company whereby the workforce had nearly quadrupled in the last five years alone," the firm said in a statement.
"RIM intends to notify impacted employees in North America and certain other countries this week. The remainder of the global workforce reductions will occur at a later date subject to local laws and regulations."
Meanwhile, RIM has made changes to the senior management structure with the intention of streamlining operations.
Brian Bidulka, chief financial officer, will oversee the Cost Optimisation Program together with Jim Rowan, who has taken the expanded role of chief operating officer, operations.
Thorsten Heins, the firm's other chief operating officer, will see his role expanded to cover products and sales in a bid to increase efficiency and accelerate the time it takes to bring products to market.
Additionally, Patrick Spence will become managing director of global sales and regional marketing and will work with Heins to tailor products to specific markets and support distribution partners.
Robin Bienfait will continue as chief information officer, and will be given additional responsibility for the enterprise business unit.
Finally, David Yach, chief technology officer, will also be required to focus RIM's efforts on software platforms, and help boost the developer and application ecosystem.
A turbulent first half of 2011 saw RIM lose two high-level employees to chief rival Samsung in the space of a month, and the exodus could continue if the situation does not pick up.
Microsoft receives a 30 per cent cut of all purchases on the Xbox digital store
Credit card thieves used Apple ID accounts to buy and sell virtual currency for Clash of Clans and Clash Royale and Marvel Contest of Champions
$5.1bn fine further evidence that the EU is anti-US, claims Trump
New cable will connect Virginia to France