RIM has started to hand out layoff notices after it said it would cut an unspecified number of jobs. The local Waterloo Region Record reports that RIM is already in the process of reducing its staff, though no specific numbers were given.

RIM's recent dismal quarterly report is no doubt responsible for the cut backs. The company's stock has dropped about 27 percent since the financials were released last week, and they're down about 50 percent for the year. Yikes!

The company has recently admitted that there are delays in new handsets and that's just not good news for RIM.