Palm cuts jobs for third time in under a year

NEWS Palm is set to cut its workforce for the third time in under a year, losing a further 250 jobs as demand for its products slips back. The news brings total job losses at the handheld manufacturer to 750 so far this year in a company that employed just 1,300 staff back in July. It also comes two weeks after CEO Carl Yankowski resigned his post as CEO. In spite of the cuts, Palm said it will hit its Q2 revenue targets of at least $250m, although it will still make a loss. The company said it will continue to slim down some of its internal business divisions such as finance, HR and IT, although the current round of job cuts is expected to save between $15m and $20m. For related news, see: Palm drops online organiser
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