Research In Motion says it’s cutting 5,000 jobs as it restructures it operations.

The BlackBerry maker also says that its much anticipated BlackBerry 10 smartphone launch will not happen until the beginning of next year. The launch had been expected later this year.

The company announced the cuts as it reported a loss of $518 million or 99 cents per share for its latest quarter. The loss compared with a profit of $695 million or $1.33 per share a year ago. Revenue for the three months fell to $2.81 billion from $4.91 billion.