Mazars has become the
latest firm to announce plans to cut jobs as it predicts flat growth for 2009.
The top 20 firm has begun to make a ‘less than 5%’ reduction in its 1,200 UK
staff and partners, according to senior partner David Evans. Income in 2009 is
expected to stall after record growth in 2008.
‘We have scope for greater levels of international mobility, which we are
exploiting,’ said Evans. ‘We are also redeploying people across disciplines
wherever possible. Inevitably, however, we are having to reduce headcount in
certain parts of the business that are particularly affected by the recession,’
Recruitment and investment will still continue in ‘key strategic areas’, he
added. Evans said he was
unable to detail where the job cuts would fall.
Other leading firms, including Deloitte, PricewaterhouseCoopers and Grant
Thornton, have also announced plans to cut jobs in recent months.
Ranked 12th in the Accountancy Age Top 50, Mazars posted record
growth in 2007/08 to take its fee income past the £100m barrier. The job cuts
overshadow Mazars’ global results released this week, which show a 16% increase
in fee income for 2007/08 of E745m (£652m).
‘Mazars’ progress is a result of robust organic growth and strategic
acquisitions in high potential regions,’ said Mazars president Patrick de
Read our profile interview with de Cambourg next month.
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks
The firm reports 7.6% global fee income growth for the year ending 31 December 2016