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Jolla Goes For Debt Restructuring (phoronix.com)
jones_supa writes: Months after the smartphone company Jolla announced its split and intent to focus on Sailfish OS licensing, its financial situation has not improved. Jolla's latest financing round has been delayed and so they have had to file for debt restructuring in Finland. As part of that, the company is temporarily laying off a big part of its personnel (Google translation of Finnish original). Jolla co-founder Antti Saarnio said, "Our operating system Sailfish OS is in great shape currently and it is commercially ready. Unfortunately the development until this point has required quite a lot of time and money (PDF). To get out of this death valley we need to move from a development phase into a growth phase. At the same time we need to adapt our cost levels to the new situation. One of the main actions is to tailor the operating system to fit the needs of different clients. We have several major and smaller potential clients who are interested in using Sailfish OS in their projects."
Thank you very much, capable engineers who have developed our product. Sadly, unless you have skills in sales and marketing, we simply cannot afford you at this time.
Sincerely,
The management team who should have seen this coming but is acting surprised.