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BlackBerry Ltd. on Friday issued an early earnings report accompanied by some bad news for its workers — a nearly $1 billion quarterly loss and a 40 percent lay off that amounts to about 4,500 employees.

The AP reports:

"The stock dropped 19 percent to $8.50 after reopening for trading. Shares had been halted pending the news."

"BlackBerry had been scheduled to release earnings next week. But the Canadian company said late Friday afternoon it expects a loss of about $950 million to $995 million for the quarter, including a massive inventory charge due to increasing market competition."