Loudcloud says staff will go

Cash burn causes cutbacks...

Cash burn causes cutbacks...

Loudcloud is to lay off workers in a restructuring plan aimed at reducing cash burn. The company, started up by Netscape pioneer, Marc Andreesen, will not disclose how many of its 480 staff will go, but has said it will make cutbacks in its customer solutions, and software engineering divisions. The restructure aims to reduce expenditure to between $18 and 20m per quarter. According to last month's financial results cash burn in the last quarter - ending 31 July - was $76m leaving the company with just $170m in cash. Loudcloud says it expects to make a profit in 2003. Earlier this year the company laid off 122 workers - 19 per cent of its workforce. For a more detailed account on Marc Andreesen's accomplishments, log on to silicon's Agenda Setters 2001 report at http://www.silicon.com/as2001.