Palm Announces Morale Reduction
Palm’s employee head count is declining as quickly as its share of the world-wide smart-phone market. The company, which earlier this month warned it would miss quarterly estimates, has begun sacking employees–just in time for the holidays.
“Palm is working to sharpen its focus and better align resources behind core initiatives that will make the greatest impact to our business,” the handset manufacturer 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.”
Palm hasn’t said how many employees are affected by this latest round of layoffs, but word on the street is that they could number in the hundreds–a significant reduction for a company that employs just 1,200 people or so.