Palm lays off 10% of workers to cut costs

Palm, the troubled maker of Treo smart phones, laid off about 10% of its work force this week to cut expenses, according to a person familiar with the situation, quoted by an Associated Press report said.

The Associated Press report also quoted a company statement confirming some layoffs were made as part of a restructuring.

The person said Palm, which has a worldwide staff of 1,150, was eliminating more than 100 jobs.

Palm's statement said the restructuring, which also included some reassignments, was part of its ongoing effort to 'focus and better align resources behind core initiatives' and 'to ensure that our expenses are in line with projected revenues,' the Associated Press report said.

The report further said when the company reports its fiscal second-quarter results Tuesday, it has said it will swing to a wider loss than had been expected because of yet another delay in a product launch.

The company did not name the product but analysts widely believe it is a Treo model slated for a major wireless carrier, the report said.

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