Struggling handheld device maker Palm has been hit with layoffs.
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The layoffs, which occurred Thursday, affected "a small percentage" of Palm's approximately 1,200 employees and were concentrated in the company's development group, according to a company spokesman. They primarily affect Palm employees in the U.S., he added.
Palm has seen steady decline in the handheld device market where it leads the market and is in the midst of financial restructuring. Last week, private equity investors Elevation Partners took a 25% stake in Palm, investing $325 million into the struggling smart phone maker.
The company faces stiff competition in the growing smart phone market, where its Treo line has been a hit.
The Palm spokesman said that the reorganization was in the works prior to the Elevation investment and that the company is still hiring staff in other areas. "We're flattening our organizational hierarchy and doing some realignment," he said.
He would not say exactly how many employees were being laid off.
The IDG News Service is a Network World affiliate.
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Copyright 2008 Network World Inc.
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Re: Palm hit with layoffs By Anonymous on June 19, 2007, 10:59 am Reply | Read entire comment Hopefully it was the group that convinced Palm to produce the Foleo. Anybody remember the 3Com Audrey? Yep, this is the same company. Re: Palm hit with layoffs.
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