While President Obama is at the Claycomo Ford plant praising his economic recovery . . .
BlackBerry announced it will report a loss of nearly $1 billion for the second quarter and slash 40 percent of its global work force.
The announcement of 4,500 job cuts came late Friday afternoon, confirming layoff rumors that have been swirling about problems at the smartphone maker. It attributed the loss to a charge it will take to restructure its business as well as an “increasingly competitive business environment.”