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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (56484)	11/28/2001 10:29:48 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Palm to cut 250 jobs msnbc.com ASSOCIATED PRESS SANTA CLARA, Calif., Nov. 28 — Palm Inc. will cut its work force by 250 employees and contractors, and expects current quarter results to meet Wall Street expectations. THE SANTA CLARA-BASED handheld device maker, which has been struggling to recover from steep losses this past year, said Wednesday it expects revenue for the fiscal second quarter ending Nov. 30 will range from $250 million to $280 million. That is toward the upper end of its prior guidance, Palm said. Palm said it expects a pro forma loss of 7 cents a share, in line with the consensus estimate of analysts surveyed by Thomson Financial/First Call. The latest job cuts will reduce Palm’s work force of 1,500 by about 16 percent. Palm also cut 250 employees in March. Palm plans to announce results Dec. 19. Shares of Palm were down 21 cents to $3.41 at the close of the Nasdaq Stock Market. In after-hours trading after the announcement, shares were back up 21 cents, or 6 percent, to $3.62.