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RIM Facing Potentially Difficult Annual Shareholder Meeting

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RIM Facing Potentially Difficult Annual Shareholder Meeting

RIM is looking to save $1 billion to tide it through a precarious time by selling one of its two company jets Bloomberg has heard. Earlier, in late June, part of cost-cutting strategies, RIM announced it would be cutting 5,000 jobs after reporting a net loss of $192 million. The company is under pressure to ditch its own BlackBerry 10 OS (the first of those phones are expected to launch not until January next year) in favor of a rival OS. Evidence of these or other turnaround strategies could be revealed at RIM's annual meeting being held this afternoon, which kicked off with the re-election of the company's board.

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