Those relieved of their duties now have a fabulous comeback to toss at annoying relatives who ask, "Now, what is it you do for a living?"
"Same as you," they may deadpan. "Not a damn thing."
Anyway, it's time to find out who got their turkey stuffed as we review the past week's most interesting hirings and firings:
The company received $10 million in funding during the third quarter of this year, according to the latest MoneyTree Survey by PricewaterhouseCoopers, Venture Economics, and National Venture Capital Association. But this very company that once scoffed at the idea that it was hibernating is said to have cut its staff to the bone, despite the fresh funding (see Bear Market Inspires Hibernation).
In October, AcceLight laid off 26 of its 40 employees in its Pittsburgh office. Another 100 were cut from its Ottawa operation, according to many of the workers affected (see Startups Make More Cuts). Now, one Headcount source says that 40 more have been cut in Ottawa and the Pittsburgh office is completely vacant, save a few administrative folk.
We once wondered if that old bear AcceLight was hibernating. Now it appears it's about to be used for a fireplace rug. Headcount's calls to the marketing and PR staff (who were cut) were bounced to Denny Lee, director of product management, who never called back. Grrrr!
Readers, please note that Yotta Networks is not the same company as YottaYotta Inc. ("ToastToast"), the storage networking vendor based in Canada.
Paquin founded Skystone Systems in 1995 and helped sell it to Cisco Systems Inc. (Nasdaq: CSCO) in 1997. Later he led Philsar Semiconductor until it was bought by Conexant Systems Inc. (Nasdaq: CNXT) in 2000. Either Mr. Paquin once had a hot hand for dealing semiconductor startups, or the poor lad just can't hold down a job.
Here's a summary of other industry appointments (and disappointments) from the past several days:
— Phil Harvey and Marguerite Reardon, Senior Editors, Light Reading