The Register: Jobs blow hits Linuxcare as IPO put on hold
May 04, 2000, 11:45 (2 Talkback[s])
(Other stories by Sean Fleming)
How to Help Your Business Become an AI Early Adopter
"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On Monday it asked for its SEC filing to be withdrawn and its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."
- CNET News.com: Troubled Linuxcare announces major layoffs(May 04, 2000)
- WideOpenNews: Linuxcare Lays Off Part of Workforce(May 03, 2000)
- InfoWorld: Linuxcare shies from renewing IPO plan(May 03, 2000)
- TechWeb/Reuters: Linuxcare Seeks Withdrawal Of IPO(May 02, 2000)
- SRO: When It Rains, It Pours - Linuxcare loses second top official(Apr 19, 2000)
- CNET News.com: Another high-level Linuxcare exec departs(Apr 19, 2000)
- SRO: LinuxCare Pulls IPO Plug(Apr 18, 2000)
- LinuxMall.com: Linuxcare: Support for the Convolution(Apr 17, 2000)
- Upside: Linuxcare regroups(Apr 14, 2000)
- Upside: Linuxcare chief leaves under cloud(Apr 13, 2000)