ComputerWorld: TurboLinux cuts jobsJun 02, 2000, 01:32 (0 Talkback[s])
(Other stories by Dominique Deckmyn)
"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."