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56. Re: OnLive Layoff Rumors; Indie Weekend Giveaways Aug 18, 2012, 12:49 Beamer
So now they're saying they've been sold to a newly-formed company?

My guess? Too much debt, so they did something shadier than bankruptcy. Form a new company, sell all the assets to the new company, hire the employees you want/need (letting the less useful ones that maybe should never have been hired but didn't have the balls to fire go), declare bankruptcy on the old company now that it has no assets to be liquidated.

Sketchy, shady, and just stupid. The smart employees hired back will feel no loyalty (and loyalty tends to be high at startups) and will always be looking for a way out. Whereas if they hadn't wanted all the employees and let some go, and been honest about it, usually your remaining staff will understand if there's good reason (and dead weight is almost always understood - not uncommon to hear employees mention that it's unfortunate for the individual but should have been done a long time ago.)
Music for the discerning:
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