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Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Inmate in jail with Anthony lost child to drowning 1:33am EDT Israel asks Apple to remove intifada phone app 21 Jun 2011 Roger Ebert defends Tweet about "Jackass" star 21 Jun 2011 UPDATE 1-LulzSec's ambition grows, targets secret govt data 21 Jun 2011 California lawmakers denied pay until budget resolved 21 Jun 2011 Discussed 48 Weiner tells friends he will resign: NY Times 48 IMF cuts U.S. growth forecast, warns of crisis 46 Ron Paul wins 2012 Republican straw poll in New Orleans Watched Hefner's revenge; Ryan Reynolds stops traffic Fri, Jun 17 2011 Airbus A380 damaged at Paris Air Show Mon, Jun 20 2011 Grim cigarette labels aim to curb smoking Mon, Jun 20 2011 RIM jumps on job cut reports, takeover talk Tweet Share this Email Print Related News Wall Street rallies for 4th day; Greek government wins vote Tue, Jun 21 2011 RIM starts handing out layoff notices, report says Tue, Jun 21 2011 Nokia unveils N9 smartphone Tue, Jun 21 2011 Foster's knocks back $10 billion SABMiller bid, shares jump Tue, Jun 21 2011 RIM defection triggers fresh slide in share price Mon, Jun 20 2011 Analysis & Opinion Deals wrap: SABMiller ready for another round? Plan to ease U.S. disclosure rules only half right Related Topics Technology » Media » Dale Courville uses the RIM PlayBook in Toronto, April 19, 2011. Credit: Reuters/Mark Blinch TORONTO | Tue Jun 21, 2011 6:16pm EDT TORONTO (Reuters) - Research In Motion's shares rose around 10 percent on Tuesday as reports surfaced that it had begun cutting staff and rumors of a takeover swirled around the BlackBerry maker. Shares of RIM, which once dominated the business segment of the smartphone market, have dropped more than 50 percent this year after a series of stumbles in the race to keep up with fierce competition from Apple Inc and others in the smartphone and tablet computer markets. But shares of the Waterloo, Ontario-based company jumped $2.66, or 10.3 percent, to $28.55 on Nasdaq and C$2.33, or 9.2 percent, to C$27.74 in Toronto on Tuesday, bouncing back somewhat from what had been a 27 percent slide after it revealed dismal quarterly results and lowered its full-year outlook on Friday. "It's a classic bounce off the bottom," said Colin Gillis, an analyst at BGC Partners in New York. He said that reports that company began handing out pink slips to an unspecified number of its 17,500 workers globally, including 9,000 in the Waterloo region, may have helped. Local media reports said about 200 had been laid off in Waterloo. "The talk was that they were starting to cut heads and if they can reduce costs faster than expected, that shows decisive action," he said. A spokesman for the company could not be reached immediately to confirm the media report about layoffs, though RIM said on Friday it did plan to cut staff. With the company's stock getting cheaper, takeover rumors have been surfacing in the market, and while Gillis said he's heard them, he said he does not believe they will pan out. He said the company's management has been aggressive about buying back RIM's own stock, and that while company is worth less than it was at the beginning of the year, it still has a market cap of nearly $14 billion. "And that's a lot of change to come up with." John Jackson, an analyst at CCS Insight in San Francisco, said he thinks that there will be a lot more takeovers in the mobile market, and that RIM could be a target. At the same time, he said, investors could just be betting that RIM will make it through the turbulence. "I absolutely think there's a chance that RIM could turn it around and get back in there," he said. "I also think there's a good chance that there's a lot more M&A activity that's going to happen in the market whether or not RIM is involved." ($1=$0.97 Canadian) (Reporting by John McCrank and Julie Gordon; editing by Rob Wilson) Technology Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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