Abstracts » Business, international

Baan set to shed more staff in an effort to slash costs

Article Abstract:

Baan NV may lay off more employees as part of a effort to cut internal costs and return to profitability. The struggling Dutch software maker, which expects to report a $250 million net loss for last year's fourth quarter, has already laid off 1,200 employees, or 20% of its work force. The company will cut back on a wide range of expenses aimed at cutting $15 million from the budget in the first quarter. According to an internal memo, the costs include employee travel, mobile phone charges, and office supplies. All employees have been asked to cancel travel plans for internal meetings in the first quarter and use telephone or videoconferencing instead.

Netherlands, Baan Company N.V.

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Siebel doubles profit amid layoffs

Article Abstract:

Siebel Systems Inc. posted major increases in its profits and sales for the 2001 first-quarter, although it has also laid off 10% of its work force. The company posted $76.9 million (86.9 million euros) in quarterly net income, an increase that is more than double from the same 2000 period.

Sales, profits & dividends, Planning, Siebel Systems Inc., Layoffs, SEBL

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Internet company halves work force and shifts strategy

Article Abstract:

Engage Inc. announced that it is downsizing its workforce by 50% and that it will change its strategy in order to lower its need for online advertising revenue. The company believes the moves will bring about $120 million to $150 million in costs annually.

Engage Inc.

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