MILPITAS, Calif.-Palm Inc. said it cut 19 percent of its total work force. The news, combined with a downgrading from JP Morgan, sent the company’s stock down over 10 percent to about $12 per share.
Palm spokeswoman Marlene Somsak said the cuts came from across the entire company, including its device and operating system business. Somsak said the cuts include a previously announced 18-percent work force reduction in the company’s PalmSource Inc. operating system subsidiary. Somsak said Palm now employs around 1,300 people worldwide.
Somsak said Palm hinted that it would cut some jobs in its quarterly earnings report released in December.
As previously announced, Palm’s Tungsten W GPRS wireless handheld went on sale today.
