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http://www.insanely-great.com/news.php?id=1651
PortalPlayer lays off workers
By ron carlson, Insanely Great Mac
February 6th 2003
The company whose chips power the iPod cuts employees, seeks CEO
News.com reports that PortalPlayer, which makes chips that power the iPod, cut an
undisclosed number of jobs last month.
"We're just getting expenses a little more in line with revenue," said Michael Maia,
vice president, who added that the company hopes to reach a break-even level by this
year's third quarter.
Also, the company is seeking a new CEO to replace John Mallard who left in Dec.
Editor's note: Here's a small company with a hot product that's helped to define the
mp3 player product sector in the space of a year. This is a rather precarious position
to be in, especially if they don't intend on selling out to someone larger.
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