Sending home its employees for an awkward weekend, Transmeta this Friday revealed that it will have mass layoffs on 31 March, gets out of the processor manufacturing business and instead will try to pay its CEO's salary by licensing some of its low power microprocessor designs.
This in a nutshell is the CEO's Matthew Perry (not the actor) brilliant new strategy to turn around the company that once promised to change the future of mobile computing with its Crusoe and Efficeon processors.
Frustrated employees can turn to the Yahoo Message Board for Transmeta to air their disappointment.
Transmeta, you might remember, once promised to bring low power processing to a lap near you. The company however missed product deadlines, ruined its relation with OEMs and recently lost the only thing that made it a slightly interesting company: Linus Torvards, who started working for the Open Source Development Labs (OSDL) instead.
Signs of Transmeta losing its bearing started showing last December, when Silicon Valley Sleuth found out that the company was going to launch a line of media products at the Consumer Electronics Show in Las Vegas, which the company indeed did. No-one however paid notice because no-one cared.
UPDATE 1/24/05 2:04 PM:
Sony earlier today announced that is will licence some of Transmeta's technology. Transmeta had claimed it had a major customer on Friday, but showing some poor PR planning didn't announce the deal until Monday.
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