LimeWire Slashes Workforce, Keeps on Trucking
The music industry dealt what appeared to be a fatal blow to LimeWire by winning a court injunction against the peer-to-peer file sharing service. Desperate to keep the ship afloat, however, LimeWire CEO George Searle confirmed that the company recently laid off 29 of it's 100-person workforce, according to a report in The Wall Street Journal.
"Following the court-ordered injunction, we reduced our workforce to extend our runway for bringing our new music service to market," Searle said in a statement. "Letting go of colleagues is never easy. If we could have brought about another solution, we would have."
Laying off nearly 30 percent of its workforce should free LimeWire up to make a run at going legitimate, though details of project "Grapevine," as it's being called internally, have yet to emerge. Whatever it is, LimeWire will also need the backing of the music industry, and even then LimeWire would be joining a crowded sea of already established music services.
"Following the court-ordered injunction, we reduced our workforce to extend our runway for bringing our new music service to market," Searle said in a statement. "Letting go of colleagues is never easy. If we could have brought about another solution, we would have."
Laying off nearly 30 percent of its workforce should free LimeWire up to make a run at going legitimate, though details of project "Grapevine," as it's being called internally, have yet to emerge. Whatever it is, LimeWire will also need the backing of the music industry, and even then LimeWire would be joining a crowded sea of already established music services.
