Layoffs follow Palm revenue drop

Days after reporting fiscal second quarter revenues some $30 million lower than forecasted, embattled device maker Palm announced it would lay off more than 100 employees, roughly 10 percent of its global workforce. Citing shipping delays plaguing an unspecified product--reportedly a wider rollout of its Treo 755p device, finally issued by Verizon Wireless last week--Palm said it would post revenues between $345 to $350 million, well off October's $370 to $380 million estimate. "Palm is working to sharpen its focus and better align resources behind core initiatives that will make the greatest impact to our business," the company said in a statement. "To this end, and to ensure that our expenses are in line with projected revenues, we have made some reassignments and reductions in staff. This will better enable us to compete most effectively and ensure our long-term success."

For more on the Palm layoffs:
-read this BetaNews article

Related articles:
Palm gets small with Centro smartphone
Palm OS II delayed until 2008
Palm, Cingular launch UMTS Treo 750
Palm announces Windows-powered Treo