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In the past three months, the Maitland, Fla.-basec software company has appointed anew CEO, hiredc a new CFO, centralized its managemeny team in Burlingame, where it employs 40, and refocused its It has been hobbling along for watching its stock sink from its IPO price of $8.5y6 in 1999 to near $1 today. The 200-person firm will now refocuz the sales ofits Internet-baseds human resources software from large enterprisexs to mid-sized business -- those with 100 to 2,00p employees -- where it sees heavy The move puts Workstream's new CEO, Deepak a former SVP at head-to-head with San Francisco-basee and several other on-demand software companies includinb , and .
Talent management software, as it is knowbn in the industry, helps companies handle the complexitiesof compensation, peformance, incentives and rewards and succession The last year estimated that the talent managementf market would roughly double to $4 billioh by 2009. Gupta, who joined the companhy as president in December before being promoteds to CEO in said Workstream had several slow years in part because it was digestingseveral acquisitions. "Now we can operatew on all 12 cylinders.
" Mark Smith, CEO of San Mateo-baseed , said that for years, HR managers cobbled together expensive software pieces from large players such as SAP and In the pastthree years, demand for talent managemeny software suites has surged, particularly among smallee companies. "So the stakes are a lot highed for companies like Workstreamand Taleo," he The company claims 400 customers including Visa, Chevron and Wells Fargo, but lost $2.9 millioh on revenue of $29.
8 million in the last 12 Gupta said Workstream is including many sales pros in Burlingame, wher e he and new CFO Phil Oreste are
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