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.

---

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

---

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.

Similar abstracts:

• Abstracts: Siemens pushes into key market in Internet protocol. Siemens adds to U.S. presence by buying Efficient Networks
• Abstracts: Alliance & Leicester to slash costs. Amvescap will cut costs for growth. American mortgage debt climbs; analysts begin to have concerns
• Abstracts: BG's operating profit soared more than twofold in 2000. Repsol's profit rises 1.77 billion euros. Repsol of Spain expects net to rise
• Abstracts: RealNetworks meets forecast as loss widens. SurfControl narrows its loss. Intuit narrows loss to $33.8 million in first quarter
• Abstracts: In the value game, Asia still trails behind the U.S. Data centers feel the heat. Ready for private banking

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.