Feeds

Palm axes 250 jobs

But everything else is hunky-dory. Honest

  • alert
  • submit to reddit

3 Big data security analytics techniques

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

Combat fraud and increase customer satisfaction

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Record labels sue Pandora over vintage song royalties
Companies want payout on recordings made before 1972
Ex–Apple CEO John Sculley: Ousting Steve Jobs 'was a mistake'
Twenty-nine years later, post-Pepsi exec has flat-forehead moment
Number crunching suggests Yahoo! US is worth less than nothing
China and Japan holdings worth more than entire company
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.