Intuit says it has laid off 399 people. That compares to about 8,000 full-time employees it reported when its fiscal 2014 ended on July 31. The company said this week cuts were made across several business and functions. Affected employees will be given the opportunity to apply for jobs elsewhere in the company. A spokesperson said the company had made "organizational changes that drive greater alignment with the company's priorities".
Xero has named Sankar Narayan as its CFO effective in October. He is joining Xero from Virgin Australia where he was CFO for four years. Narayan fills the role vacated by Douglas Jeffries, when he resigned in February after eight weeks on the job. Jeffries was based in San Francisco, Calif. After his quick resignation, COO Ross Jenkins became acting CFO and will return to the COO's job once Narayan is on board. Xero has had trouble hanging on to executives recently.
Infor had a good year for fiscal 2015. However, interpreting the results is complicated by the fact that Infor reported financials for the 11 months ended April 30 as it has changed its financial year, which previously concluded at the end of May. Infor had net income of $19.7 million for the 11 months on revenue of $2.44 billion. For fiscal 2013, it had earnings of $121.7 million on revenue of $2.76 billion. CEO Charles Phillips said revenue grew in all product lines and in most countries.
Saying Sage will not set product end-of-life dates, the company has resurrected the long-lived DacEasy. Sage issued an 18-month end-of-life warning a year ago for the low-cost desktop accounting package, but has revisited the decision after a "No forced migration" dictum from CEO Steve Kelly. "As a result of our new strategy, we are rescinding that decision," Connie Certusi, the EVP who heads Sage's Small Business Solutions operations, said this week.