We had heard last week that Palm was planning some layoffs for the holidays, and although we don’t have the number of pink slips being handed out, recent warning of second quarter losses indicate that they hope to shave off $20 million in expenses in order to stay afloat. Palm’s looking at around $190 million for its Q2 earnings, which is down 46% from the same time last year, where they made $367 million. Their latest handset, the Treo Pro, though nothing to scoff at, is clearly not enough to pull Palm out of their downward spiral, and certainly not enough to get them up to the $330.8 million earnings point that analysts were expecting. Of course, the overall economic sitation isn’t helping much, either.
“We are seeing unprecedented dynamics in the global markets as economic uncertainty hampers demand for consumer products,” Ed Colligan, Palm’s chief executive, said in a statement.
Tough break Palm – with the likes of iPhone and BlackBerry rocking the smartphone market, you’ll have an upstream battle to fight here.
[via Yahoo!]