The Register: Jobs blow hits Linuxcare as IPO put on holdMay 04, 2000, 11:45 (2 Talkback[s])
(Other stories by Sean Fleming)
"A sudden downturn in fortunes at software and services outfit Linuxcare could mean as many as 25 per cent of its staff are to lose their jobs."
"The firm announced yesterday that redundancies were planned, but would not reveal the numbers involved and refused to be drawn on speculation that as up to one quarter of its employees were facing the chop. Other rumours suggest that Linuxcare is spending around $6 million per month and could be on the brink of running out of cash."
"This news is the latest in a series of blows to hit Linuxcare. On Monday it asked for its SEC filing to be withdrawn and its planned $56 million IPO is now well and truly on ice. Last month its chief executive, Fernand Sarrat, resigned - soon afterwards so did chief information officer Doug Nassuar."