Blackberry's selling of three million square feet of space in Canada is expected to help the mobile device company look towards the future when the acquisition is completed in 2015 a press release reported Friday..
This includes running more smoothly each day, using resources in the most effective way possible, and moving assets to help other parts of the company in its strategy.
"The successful sale of property in Canada will help us move toward our goal of continued operational efficiency," John Chen CEO and executive chair at BlackBerry said in a statement. "As previously stated, BlackBerry remains committed to having a strong presence in Canada and we continue to consider Waterloo home to our global headquarters," Chen said in the statement.
Blackberry will also give back other land that has nothing on them, and rent some of the space it sold.
The company's Blackberry Messenger service for Android and iPhone has done well with 10 million downloads in its first 24 hours after its release in Oct. 23.
Blackberry lost $646 million, last year, when its revenue significantly decreased 40 percent to $11 billion The Wall Street Journal reported. This year, the company lost four million subscribers and suffered another decrease of $84 million in the fiscal quarter that ended June 1.
Blackberry made a smaller amount of cuts over the summer from its sales, and research, and development departments The Journal reported. This comes just a year after the company let go 5,000 people.
Blackberry had 12,700 employees as of March, which was the last time it revealed a total number. Two years ago, over 17,000 employees worked at the company based in Waterloo, Ontario Canada. Blackberry also had control of 14 percent of the smartphone business. This has since dropped to less than three percent.
