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TUESDAY, NOVEMBER 24, 2009
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Palm Lays Off 10% of Workforce

Missteps, growing competition plague smart phone maker

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(Newser) – Palm, the struggling maker of the Treo smart phone, laid off more than 100 of its 1,150 worldwide employees this week as part of an expense-cutting restructuring. The company, facing stiffening competition, has compounded its recent woes with product launch delays and the September cancellation of the Foleo portable computer, AP reports.

Palm's fiscal second-quarter results, to be posted Tuesday, are expected to be worse than anticipated, due in part to another product launch delay. Palm now expects a second-quarter loss of 22 cents to 24 cents per share, compared to an earlier projection of a 1- to 3-cent-per-share loss.

A Palm Treo 700 phone on display at a Verizon store in Salinas, Calif., Monday, June 4, 2007. Smartphone maker Palm Inc. will sell a 25 percent stake to private equity firm Elevation Partners for $325 million and name the former technical guru behind the iPod to be chairman, the...
A Palm Treo 700 phone on display at a Verizon store in Salinas, Calif., Monday, June 4, 2007. Smartphone maker Palm Inc. will sell a 25 percent stake to private equity firm Elevation Partners for $325...   (Associated Press)
In this file photo, the new Palm Treo 750 smart phone is seen at the 2007 International Consumer Electronics Show (CES) in Las Vegas, Tuesday, Jan. 9, 2007.  (AP Photo/Damian Dovarganes, file)
In this file photo, the new Palm Treo 750 smart phone is seen at the 2007 International Consumer Electronics Show (CES) in Las Vegas, Tuesday, Jan. 9, 2007. (AP Photo/Damian Dovarganes, file)   (Associated Press)
A Palm Treo 650 user dials her phone in Salinas, Calif., Monday, June 4, 2007. As expected, shareholders of struggling Palm Inc. approved Wednesday, Sept. 12, 2007 the partial sale of the company to a private equity firm and a change in the board's makeup. (AP Photo/Paul Sakuma)
A Palm Treo 650 user dials her phone in Salinas, Calif., Monday, June 4, 2007. As expected, shareholders of struggling Palm Inc. approved Wednesday, Sept. 12, 2007 the partial sale of the company to a...   (Associated Press)
Palm Inc. CEO Ed Colligan hold up  the Palm Treo Monday, Sept. 26, 2005 in San Francisco.  As expected, shareholders of struggling Palm Inc. approved Wednesday, Sept. 12, 2007 the partial sale of the company to a private equity firm and a change in the board's makeup.  (AP  Photo/Paul Sakuma)
Palm Inc. CEO Ed Colligan hold up the Palm Treo Monday, Sept. 26, 2005 in San Francisco. As expected, shareholders of struggling Palm Inc. approved Wednesday, Sept. 12, 2007 the partial sale of the...   (Associated Press)
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