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Devices/smartphones

Palm Lays Off

2:25 PM -- Palm Inc. laid off about 10 percent of its work force this week to cut expenses, according to the Rocky Mountain News.

Citing a source, the paper says that Palm cut around 100 jobs. The company has confirmed that it made cuts but has not detailed the numbers.

Palm warned last week that it expects to post a second-quarter loss of $0.22 to $0.24; it had previously expected a loss of $0.01 to $0.03 per share. Revenue is expected to be between $345 million and $350 million, below Palm's previous projection of $370 million to $380 million.

— Dan Jones, Site Editor, Unstrung

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