Palm to lay-off unknown number of employees
By Will Park on Saturday, June 16th, 2007 at 8:58 PM PST In Announcements, Palm, Palm OS
It looks like Palm (NSDQ: PALM) is following in the footsteps of Motorola with their plan to lay-off some of its employees. But, whereas Motorola (NYSE: MOT) cut thousands of jobs in hopes of saving some much needed cash, Palm is looking to streamline their organization. A Palm spokesperson told News.com that the move is aimed at “eliminating some of the hierarchy” – particularly, but not limited to, the development team. We’re not sure exactly how many heads are going to roll with this move, but we’re pretty sure it won’t be anywhere near 4,000.
If you’ll remember, Elevation Partners (headed by rock-music star, Bono) recently bought a 25% stake in the company – for $325 million. The deal has yet to be approved by Palm shareholders.
[Via: Brighthand]
