Feeds

ClearSpeed clears out staff

Pink slip acceleration

3 Big data security analytics techniques

Floating point specialist ClearSpeed has been wounded by the subprime/credit crunch meltdown. The company has laid off a large chunk of workers to save costs, as its financial services clients abandon new projects.

One source reckoned that ClearSpeed dropped about 40 per cent of its staff, including consultants. But CEO Tom Beese told us the figure is "not quite as high as that." Still, Beese confirmed that large cuts occurred in the marketing department, along with smaller cuts in the sales, finance, administration and engineering groups. All told, ClearSpeed now employs 75 people.

"It's been tough for everyone," Beese said.

Financial services companies had been one of ClearSpeed's major markets. Such companies tend to buy cutting-edge gear and need the mathematical operation boost provided by ClearSpeed's floating point accelerators.

As a result of their own failings, these financial services firms have suffered in recent months and pulled back on internal spending.

"Things look like they're going to be slower than anticipated ahead of the credit crunch," Beese told us.

Still, ClearSpeed remains optimistic about its long-term prospects with customers in the high performance computing markets eyeing accelerators that can improve the performance of large server clusters.

"I feel like we're strongly placed and on course to drive our HPC business to profitability," Beese said.

In a Jan. filing, ClearSpeed revealed that it planned to embark on a reorganization to reflect "tougher market conditions." It also reported total cash reserves of close to $38m and savings of close to $8m from the layoffs. ®

SANS - Survey on application security programs

More from The Register

next story
This time it's 'Personal': new Office 365 sub covers just two devices
Redmond also brings Office into Google's back yard
Kingston DataTraveler MicroDuo: Turn your phone into a 72GB beast
USB-usiness in the front, micro-USB party in the back
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
BOFH: Oh DO tell us what you think. *CLICK*
$%%&amp Oh dear, we've been cut *CLICK* Well hello *CLICK* You're breaking up...
Just what could be inside Dropbox's new 'Home For Life'?
Biz apps, messaging, photos, email, more storage – sorry, did you think there would be cake?
IT bods: How long does it take YOU to train up on new tech?
I'll leave my arrays to do the hard work, if you don't mind
Amazon reveals its Google-killing 'R3' server instances
A mega-memory instance that never forgets
Cisco reps flog Whiptail's Invicta arrays against EMC and Pure
Storage reseller report reveals who's selling what
prev story

Whitepapers

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
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.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.