MAZARS could make up to 5% of its workforce redundant, as it begins a consultation process across the firm.
Accountancy Age has learned staff were informed this week that a consultation process to cut costs was taking place across the business.
A statement from Mazars said: "Mazars has made significant headway in the last few years, with good organic growth and profitability. However, the continuing market conditions in the UK mean that, like most professional service firms, regrettably we are obliged to engage in a consultation process across our business that may result in redundancies of up to 5% of our workforce.
"Every effort will be made to consult and help those who are leaving us. Mazars has a highly talented team and will continue to provide the market leading support to our clients that has always driven our growth."
Accountancy Age understands the firm is in the process of determining which members of staff will be made redundant, with a limited number of partners to be included.
The consultation, including redundancies, should be finalised before the end of the year.
According to the Top 50+50 2012 survey, Mazars had a fee income of £114.4m and employs 115 partners.
I recently read Mazars appointed Phil Verity as Managing Partner.
Today i read 5% of the workforce are "being made redundant"
In my opinion the appointment of Verity and today's redundancies are linked and Verity can now boast a more profitable Mazars to his fellow partners... Well done Phil.
Posted by: richard, 09 Nov 2012 | 11:29
Indeed, Phil Veritys appointment was the catalyst for all of this. Poorly lead company that is sinking fast - how do I know - insider information.
Best to jump ship now.
Posted by: Sarah, 16 Nov 2012 | 09:46
Phil has had no choice as Mazars' growth is stilted and overheads remain high with a vast network of loosely connected regional offices, no centres of excellence and a disjointed collecton of theifdoms portraying themselves as a national player. Showing my hand, I am a former employee and see much to admire in the brand, but less so in the recent leadership. I hope Phil has the courage to reshape the senior pool as well as the junior ranks.
Posted by: former, 18 Dec 2012 | 18:12
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