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Turbolinux Denies Rumors of CollapseJul 19, 2002, 21:24 (7 Talkback[s])
(Other stories by Jacqueline Emigh)
Turbolinux today denied rumors that its operations have "collapsed," and that its facilities in the US have shut down. The company acknowledged, though, that its US arm is undergoing a restructuring and a reduction in force, blaming the reorganization on the withdrawal of a still unidentified investor from a round of funding.
The US operations of Turbolinux remains open for business, a Turbolinux PR rep said today.
"Turbolinux continues to do business as a privately held, global software company," elaborated Turbolinux President and CEO Ly-thong Pham, in a written statement to Linux Today.
On the whole, Pham's statement refuted some portions of a report published yesterday in LinuxGram, but tended to corroborate some other statements in the report.
"In the final stages of a new round of funding, we experienced a last minute withdrawal by one of the investors. The results is that we have had to take immediate action to restructure our US operations," according to Pham.
Pham maintained that the restructuring affects US operations only, and does not impact on operations in the Asia-Pacific. Also in the US, a reduction in force has been effective since July 15. Turbolinux is "actively working on a revised business plan for the US operation," she contended.
"We expect to be able to satisfy our US customers' needs for support and future products. We plan to have more details about our US operations next month," according to Pham.
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