Transmeta cuts more employees
The company returns to its core competency: layoffs
Transmeta, the chip company that once promised to take on Intel, will cut 39 percent of its workforce, or 75 people in an effort to further reduce costs, the company said today. It also said it would cut 25 to 55 more jobs over the next two quarters.
The surprise, in some ways, is that they had 75 employees to lay off.
The company burst onto the scene in 2000 with a chip that it said could run Windows-based notebooks but consume far less power. Although it signed deals early with some vendors, it ran quickly into problems mass producing or upgrading its chips. Layoffs, huge financial losses, executive changes, and lost deals followed.
Between January 1998 and the present, Transmeta has posted accumulated losses exceeding $635 million.
The company is currently trying to get revenue from licensing its patents and engaging in lawsuits.