"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On Monday it asked for its SEC filing to be withdrawn and its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."
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