LATEST: Andersen to axe up to 70 partners
Andersen expects to shed between 60 and 70 UK partners on top of the 1,500 employees it said yesterday would be made redundant.
The rapidly disintegrating firm, which has more than 5,000 staff and almost 400 partners in the UK, has now launched a 90-day redundancy consultation period.
A spokesperson said today: ‘We probably expect 60-70 partners to be leaving the firm.’
Andersen blamed the lack of referral work from its worldwide offices for the cuts, but said the job losses were unconnected with the firm’s decision to combine with Deloitte & Touche.
The spokesperson, however, could not rule out further cuts in future, but said these cuts would be the ‘bulk’ of them.
London is expected to bear the brunt of the losses, though no decision has yet been taken on which sectors will be affected.
The spokesperson denied the announcement had been timed to coincide with the chancellor’s speech and said that the firm had simply sought to let staff know as early as possible.