Accenture to cut workforce by 1,400
Consultancy Accenture is to cut its workforce by 1,400 as a result of the US economic slowdown.
The company, which was formed from the split between Andersen Consulting and Arthur Andersen, provides management and IT consulting services.
It is thought 800 jobs will go through a voluntary sabbatical period and around 600 through reorganising support personnel.
Accenture, which employs 75,000 people worldwide, announced in April that it is to float on the New York Stock Exchange following a vote by partners. As a result, partners expect to receive a handsome windfall from the flotation – an average $4.3m (£3m) in shares if divided equally. It is believed, however, that senior partners will receive a greater proportion of shares.
The decision to cull the workforce follows earlier news that rival firms KPMG Consulting and Ernst & Young Cap Gemini were both cutting jobs.
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Accenture partners back flotation plans