Feeds

Palm axes 250 jobs

But everything else is hunky-dory. Honest

  • alert
  • submit to reddit

Internet Security Threat Report 2014

Palm last night said it will rid itself of 250 staff, part of the fallout of the Be acquisition, but sought to sugar the pill for its remaining employees by stressing that its Q2 revenue is on course to fall between $250 million and $280 million.

That's not much to crow about, however, since that range is simply within the forecast Palm had already made. Doubly so, since the company is still expecting to post a loss for the quarter, of around seven cents a share, in line with Wall Street expectations.

Palm's second quarter end tomorrow, 30 November. It will report its results on 19 December.

Q2's figures are within the parameters of Palm's recovery plan, instituted more than six months ago by a CEO no longer working for the company. Which may say much about how much faith former chief Carl Yankowski had in its success.

However, interim CEO Eric Benhamou, who ran Palm while he was head of 3Com, the company's former parent, was bullish. "Palm is executing better than a few months ago in both of our core businesses," he said. "And we are now in a position to further reduce our cost structure. Together, these favourable factors will accelerate our return to profitability."

'Further reduce our cost structure'? That won't be welcome news to staff in the light of this week's job cuts. Palm did say it was planning to hire "additional people with skill sets to match the future needs of Palm's Solutions and Platform Solutions groups", but it seems they will offset today's cuts to bring the total number of staff sent pink slips down to 250. So much for the skills Be's staff brought to the company, only 45 of whom will be added to Palm's payroll.

The workers given pink slips this week include employees and contractors. Palm didn't specify how many of each.

Palm said it was on course to spin off its Platform Solutions Group - the team that develops the Palm OS - by the end of calendar 2001. ®

Related Stories

Palm to shut personal data portal
Palm, Handspring stock surges on merger rumour
Shoe salesman quits PDA company

Intelligent flash storage arrays

More from The Register

next story
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Musicians sue UK.gov over 'zero pay' copyright fix
Everyone else in Europe compensates us - why can't you?
Megaupload overlord Kim Dotcom: The US HAS RADICALISED ME!
Now my lawyers have bailed 'cos I'm 'OFFICIALLY' BROKE
MI6 oversight report on Lee Rigby murder: US web giants offer 'safe haven for TERRORISM'
PM urged to 'prioritise issue' after Facebook hindsight find
BT said to have pulled patent-infringing boxes from DSL network
Take your license demand and stick it in your ASSIA
Right to be forgotten should apply to Google.com too: EU
And hey - no need to tell the website you've de-listed. That'll make it easier ...
prev story

Whitepapers

Seattle children’s accelerates Citrix login times by 500% with cross-tier insight
Seattle Children’s is a leading research hospital with a large and growing Citrix XenDesktop deployment. See how they used ExtraHop to accelerate launch times.
5 critical considerations for enterprise cloud backup
Key considerations when evaluating cloud backup solutions to ensure adequate protection security and availability of enterprise data.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.