Struggling Palm Lays Off Workers
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Palm laid off about 10 percent of its work force this week to cut expenses, according to a person familiar with the situation.
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NEW YORK CITY - Colgate-Palmolive Co. announced its plans on Tuesday to axe about 4,400 jobs and close one third of its 78 plants worldwide.
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Colgate-Palmolive is to cut about 4,440 jobs -12 per cent of the workforce - and close roughly one-third of its factories amid fierce competition from Procter &amp; Gamble.
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Record sales, but numbers still down Palm is still losing money, despite the Centro selling in record numbers (for Palm). The company lost $9.6m in the three months to 30 November, on revenues which are down 11 per cent on last year to $349 million.â¦
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Under mounting pressure from German government officials and former employees of the mobile phone division it paid BenQ to take off its hands, Siemens has set up a â¬35 million ($44.4 million) fund to aid workers at risk of losing their jobs.
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Caught in a fierce competitive market populated by BlackBerries, iPhones and other innovative devices, Palm announced this weekend that it will close most of its retail stores.
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Shipments of devices running the Palm OS have declined sharply, researcher says.
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Treo smart-phone maker Palm Inc., which is facing increasing competition and recently pulled a major new product just before its scheduled launch, said Wednesday it expects its profit to fall in its fiscal first quarter.
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Palm's CEO says the company has made a last-minute decision to not ship its Foleo smart phone companion.
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Palm Inc. has canceled plans to release a laptop-like gadget that was supposed to serve as a smart-phone companion, months after the product was announced and ridiculed by analysts.
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The scandal-beset company will also lay off about 10 percent of its work force.
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Irish Ferries has commenced laying off staff as a result of today&#39;s strike by ships officers belonging to SIPTU. It is understood that all ratings have been sent home with the exception of those required for emergency cover on the boats.
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Stricken hedge fund group Amaranth Advisors LLC said it is laying off about half its staff to cut operating expenses as it liquidates its portfolio in the wake of the worst hedge fund loss ever.
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Motorola Inc. is laying off 1,000 employees in conjunction with its upcoming chip unit spinoff and ongoing efforts to reduce operating costs, the company said Tuesday in a regulatory filing.
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The UK's largest brewer announces it is closing its operation in Berkshire putting 362 jobs there at risk.
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Temple-Inland Inc. (TIN.N: Quote, Profile, Research) , a maker of packaging and building materials, on Monday said it will lay off about 1,500 employees as it repositions its mortgage
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(InfoWorld) - Under mounting pressure from German government officials and former employees of the mobile phone division it paid BenQ to take off its hands, Siemens has set up a â¬35 million ($44.4 million) fund to aid workers at risk of losing their jobs. The move comes just days after BenQ announced it wouldÂ stop investing in BenQ Mobile, because it saw no end to the losses after already sinking over â¬600 million into the unit. BenQ Mobile, which employs 3,000 workers in Germany, immediately said it wouldÂ file for bankruptcy protection. Newspaper reports cited name calling and legal threats from both Siemens and BenQ in the dispute over the fate of workers at BenQ Mobile, but a BenQ representative said there has been no official contact between the two companies and that much of the talk is mere speculation. On Tuesday, Siemens announced it would set up the employee education and retraining fund, contributing â¬5 million of the sum from a salary increase already approved for Siemens' management, it said in a statement. The German electronics giant said its decision toÂ sell the mobile phone division to BenQÂ provided the greatest possible benefits to employees at the time of the sale, and that closing the business outright would have been a less expensive option. BenQ had presented a credible plan for operating and expanding the mobile phone division at the time of the sale, and Siemens believed it was sincere, the company said. The company expressed shock at BenQ's decision to "put its people on the street." BenQ declined to immediately comment on the jab. Siemens paid BenQ â¬250 million to take the loss-making division off its hands last year, and even agreed to buy a â¬50 million stake in BenQ to solidify the deal. Since then, BenQ Mobile's business has continued to deteriorate as rivals in the mobile phone industry snap up market share. The division caused BenQ toÂ post lossesÂ in each of the past three financial quarters.