"We took a step towards bringing our expenses in line with our
revenue and profit growth," said Lonn Johnston, the company's vice
president of corporate communications. ... Online rumor mill
Slashdot.org ran an anonymous report yesterday saying TurboLinux
had slashed staff by "at least 50%" in most departments, including
development, but Johnston disputes the story. ... He said product
development and services were virtually untouched by the cuts.
"I think this is more about the stock market than about the
inherent value proposition of TurboLinux," said Dan Kusnetzky, an
industry analyst at International Data Corp. in Framingham,
Mass. Kusnetzky said TurboLinux has strong products and a strong
position in Asian markets, but the current market circumstances
mean it will have to go without the influx of capital that an
initial public offering would bring."
"Johnston wouldn't discuss TurboLinux's IPO plans, but said the
company's business plans haven't changed. He said the company has
plenty of cash from previous financing rounds."
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