UPDATE: Nearly 25% Laid Off, Telenisus Claims

It was previously reported that last Friday sources, including an ex-employee, said about 100 Telenisus employees were laid off, adding to the alleged 50 workers let go the week prior. However, the company’s Director of Communications, Rick Aspan, asserted to the contrary that about 60 employees were laid off on Friday, with only 10 the week before.

“Following completion in 2000 of our successful build-out and expansion
phase, Telenisus has accelerated its timetable to achieve profitability.
This includes a restructuring that has brought our workforce to about 220
people, a nearly 25 percent reduction,” said Mr. Aspan.

Mr. Aspan also told chicago.internet.com that it has secured a bridge round of funding to sufficiently fund operations through
closure of our third round of funding and beyond.

“And while it’s too soon to provide
details, we’re nearing successful completion of the third round, in which we
are seeking an unspecified amount from private institutional investors.”

He would not affirm nor decline rumors concerning the acquistion of Telenisus by Nuclio Corp. (Nuclio’s public relations firm said the company was not in negotiations to acquire Telenisus.)

Mr. Aspan provided the following statement by Telenisus President CEO, Gordon Reichard Jr. to chicago.internet.com:

“We have responded to the realities of today’s changed economic climate.
Today’s market conditions reward companies that grow profitably, and we
intend to do just that. We simply are adding a shortened path to profitability, something required by
the investment community. Telenisus is positioned well. We have in place all we need-services,
support capabilities and coverage-to serve customers with excellence. We
expect great things and continue to be a Chicago-area company to watch in
2001.”