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WideOpenNews: Linuxcare Lays Off Part of Workforce

May 03, 2000, 23:19 (4 Talkback[s])
(Other stories by Anne Speedie)

"San Francisco-based Linuxcare laid off part of its workforce Wednesday. The company would not confirm how many employees were laid off, but did note that none of the layoffs were upper management. The layoffs follow on the heels of major corporate restructuring, including the departure of former CEO Fernand Sarrat and former CIO Douglas Nassaur."

"The services and support company officially withdrew its IPO Monday, in light of Sarrat's departure and unfavorable market conditions for Linux companies. The withdrawal allows Linuxcare to exit the SEC-mandated quiet period before an IPO. The company says it still plans to go public "when the time is right."

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