RIM has started cutting jobs.

570 News has learned as many as 200 employees received layoff notices today.

Many of the jobs are believed to be in manufacturing.

The cutbacks come after RIM stock fell almost 20 percent on Friday. On Monday, it lost another  six percent closing down $1.83 at $25.41 on the Toronto Stock Exchange.

Also, 570 News spoke with someone this afternoon who told us he’d been laid of this morning.

The purchaser, Tim, says he was 6 months into a one-year contract. He doesn’t know how many people were let go today but believes all the contractors were.

RIM has yet to comment on this situation.