Beleaguered Palm cuts jobs as Apple iPhone takes market share

“Struggling smartphone maker Palm Inc. said Friday it is cutting its workforce, a move the company takes as it loses market share to rivals Apple Inc. and Research in Motion,” Gabriel Madway reports for Reuters.

MacDailyNews Take: “We’ve learned and struggled for a few years here figuring out how to make a decent phone. PC guys are not going to just figure this out. They’re not going to just walk in.” – Ed Colligan, Palm CEO, November 16, 2006

Madway continues, “Spokeswoman Lynn Fox said the layoffs began this week, but she declined to say how many jobs would be cut. Palm, which employs 1,050 workers, makes the Centro and Treo smartphones.”

“Palm has been staking its future on the launch of a yet-to-be-named operating system and device,” Madway reports. “Fox said the OS is on track to be released this year, and the device in the second half of 2009.”

MacDailyNews Take: Total waste of time.

Madway continues, “Palm shares have fallen around 65 percent this year. The stock shot up 45 cents, or 25 percent, Friday to close at $2.24 on Nasdaq.”

Full article here.

[Thanks to MacDailyNews Reader “James W.” for the heads up.]

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