Sources have reported to DubMC that Palm Pictures has let go of most of their remaining staff today with "only a few accountants still walking around the office" and a couple of marketing staff. Approximately fifty staff members have been let go in the past month or so. This is not a total surprise since Palm has not released much if any physical product in several months. This follows on the heels of Triloka Records getting absorbed by Artemis and Narada getting fully absorbed by its parent company Virgin/EMI, with neither label continuing to release product under their world music imprints, and neither of Triloka's and Narada's founders still with the companies.
(UPDATE RE: NARADA ON 10/01/2006, click here.)