LinuxDevices: Lineo Swallows Another Bitter Pill, Cuts Staff to Under 80
Mar 20, 2002, 23:30 (0 Talkback[s])
"Citing 'the impact of the economic downturn that has prevailed
since March,' Lineo reduced its headcount again this week and
continued the process begun last Fall of narrowing its focus to
three key target markets. According to CEO Matt Harris, the company
is reducing its size from 138 employees to between 75 and 80.
Harris said that revenues from services and royalties during Q1
2002 are up sharply, more than doubling that of Q4 2001, and that
the current backlog exceeds $5M of scheduled services and license
revenues, but that the changes are required to achieve
profitability by mid-2002..."