Despite Palm Inc.’s cost-cutting tactics, revenues for the second quarter of 2008 still decreased by 46% of the 1st quarter’s result. The result is way much farther than Wall Street’s forecast of only 9.8% decline from the first to the second quarter. To try to improve the company’s revenue results, Palm intends to cut its operating costs by employee lay off, combining European operations, and transferring Asia Pacific positions to U.S. Offices.

To add up to the pressure, Palm’s shares dropped by 31 cents, more than 16 percent, to $1.57 in after-hours trading on Monday.