Blackberry (BBRY) Stock Drops 20% - Cuts 4,500 Jobs

Blackberry (BBRY) stock dropped 20% after the company slashed guidance and cut 4,500 jobs.

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Blackberry (BBRY) shares dropped hard on Friday after bearish earnings news and an announcement that the company will layoff 4,500 workers.  BBRY stock dropped 17% during the trading day to $8.73 but and then dropped another 3% after hours.

Blackberry (BBRY) needs to hold $8.57 on Monday or it could get ugly.  The next major support level to watch is located at $8.14 & $8.

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