webOS will continue, possibly licensed to other companies.
While it was made official last week that HP would no longer be producing its lines of webOS devices (including the Pre mobile phone and the TouchPad tablet), the company has said publically that webOS will live on, at least for the immediate future.
Speaking after a meeting with employees at the webOS Global Business Unit of HP, webOS Vice President Stepehen DeWitt said several times that HP would not "walk away" from the mobile operating system, and that a roadmap for the future of webOS would be available in the next couple of weeks. "Clearly, we don't have all the answers yet." He said.
One option that is being discussed online is possibly licensing webOS to other mobile manufacturers. HP Vice President Tom Bradley commented on the rumours, saying only that webOS is currently only designed to work with Qualcomm chipsets, and that that would have to change were webOS to roll out on many other current handsets. Whether that's part of DeWitt's planned roadmap isn't clear.
While DeWitt said that there would be some staff layoffs following the discontinuation of its hardware line, webOS will march on, and that HP needed "people who are serious about winning." We know a guy.