The management consultancy said the job cuts were forced due to economic conditions which had lead to its average attrition rate falling from 15% a year to half that amount. As a result, the senior manager level had become top heavy.
A spokesman explained the unfortunate move, saying: ‘Due to the situation in the job market, people are staying in their jobs and not moving on at the expected rate.’
The company added its graduate intake would not be affected and that the move represented a cost-saving over time. Over 75,000 people are employed worldwide by the company, including 7,000 in the UK.
Senior managers at the consultancy sit below equity partners and associate partners in the company hierarchy.
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