Feeds

3dfx fires 20 per cent of workforce

Graphics company's new CEO swings the axe, as promised

  • alert
  • submit to reddit

High performance access to file storage

The scheduled launch date for 3dfx's upcoming next-generation Voodoo 4 and 5 graphics acceleration products may be getting nearer, but not close enough to save the company financial embarrassment. Last week the loss-making company was forced to lay off 20 per cent of its staff -- 130 people in total -- in a bid to cut costs. It also said its high-end Special Technologies Group would be spun off, again in a bid to reduce the company's overheads. Getting rid of the STG will contribute to the overall jobs cuts. The STG develops Voodoo-based products for the Windows NT workstation market, something that's arguably more the purview of 3dfx's partner Quantum 3D, which operates in the high-end simulation market and in which 3dfx has also invested. Not that a swinging axe should surprise anyone. CEO Alex Leupp, who replaced the disgraced Greg Ballard last November, said at the time he was willing to make major cuts in order to get 3dfx back to profitability. 3dfx went into the red during its first quarter of 1999 after the company splashed out on the acquisition of board maker STB. However, the much-delayed development of its VSA-100 chip, the successor to the Voodoo 3, has clearly proved costly. VSA-100 based products were originally slated to ship during autumn 1999, but will now not see light of day before spring 2000, a six-month slide that prompted Ballard's resignation. ®

High performance access to file storage

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.