According to the AP, Palm (PALM) will cut 10% of its workforce, or about 100 people

The company has been troubled by disappointing earnings and slow release of its new smartphone. The board has brought in two former Apple (AAPL) executives to help turn around the company, but their efforts may not bear fruit until the second half of 2008, if they do at all.

Shares of the company have dropped from a 52-week high of $19.50 to $5.33 and are up slightly on the news.

Douglas A. McIntyre