The recent report confirms that Palm is set on continuing with its current cost-savings initiatives. In other word, people will get fired and bonuses will become a thing of the past.
“We are seeing unprecedented dynamics in the global markets as economic uncertainty hampers demand for consumer products,” said Ed Colligan, Palm’s president and chief executive officer. “In order to ensure Palm’s long-term success during these uncertain times, we’re taking several steps to significantly reduce our cost structure. These measures will help us navigate this difficult period while launching our next-generation products as planned.”
Palm expects that its cost savings plan would reduce quarterly operating expenses by approximately $20 million by Q4 fiscal year 2009.