Big job losses at Baan

NEWS Nearly 800 employees will lose their jobs as UK manufacturing technology company, Invensys, takes over Dutch ERP firm, Baan, according to reports in the Wall Street Journal. Among those leaving are six top executives: Peter Aird, EVP of customer support; Giovanni Bindoni, EMEA president; Charles Callahan, vice president of global consulting; Tom Erickson, Asia-Pacific president; Katrina Roche, chief marketing officer; and Mike Shinya, EVP of worldwide sales. Invensys will complete its takeover of Baan on 18 August, when Baan shareholders will meet in the Netherlands and are expected to be paid E2.85 (£1.72) per share.