Palmed-off

Handheld computer maker Palm disclosed plans to cut its workforce by 13 percent and make other cutbacks in response to a reduced revenue outlook and expected fiscal fourth-quarter loss.

The planned cutbacks were announced as Palm reported financial results for its third quarter ended March 2, with revenue increasing 73 percent from the same period a year ago to US$470.8 million. But the company said fourth-quarter revenue is only expected to total $300 million to $315 million, down from the year-earlier figure of $350 million.

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