Palm, the struggling maker of the Treo smart phone, laid off more than 100 of its 1,150 worldwide employees this week as part of an expense-cutting restructuring. The company, facing stiffening competition, has compounded its recent woes with product launch delays and the September cancellation of the Foleo portable computer, AP reports.
Palm's fiscal second-quarter results, to be posted Tuesday, are expected to be worse than anticipated, due in part to another product launch delay. Palm now expects a second-quarter loss of 22 cents to 24 cents per share, compared to an earlier projection of a 1- to 3-cent-per-share loss. (More Palm stories.)