BAAN, ERP PROVIDER, FACES LOSSES, RESTRUCTURING
Baan NV, the big enterprise resource planning system provider, said that it will record losses of between $240 million and $250 million for the fourth quarter of 1999.
The software company, which announced a strategic reorganization to focus on the business-to-business e-commerce market, said that it will write down assets and close offices.
Baan has seen its stock collapse by more than 40 percent since the beginning of January, to $7 3/4, as Mary Coleman, the company’s chief executive officer, and James Mooney, chief financial officer, have announced
that they are leaving the company.
