PracticeConsultingUK jobs spared in Accenture cuts

UK jobs spared in Accenture cuts

The UK staff of Accenture has been spared from a second round of job cuts, as the consulting firm said it would axe 1,500 jobs just a month after its flotation on the New York Stock Exchange.

The world’s largest consultancy said it would axe about 2% of its workforce, 1,500 jobs; 1,000 in the US and 500 among support staff worldwide. The firm will incur exceptional charges to pay for the redundancies.

The cuts will affect consulting personnel and their supporting staff, the company said. The firm said it was cutting jobs in response to the global economic slowdown and its low rate of staff turnover.

Chief executive Joe Forehand said the firm was taking this action after its annual budgetary review to ‘ensure our staffing levels are better balanced with client demand’.

But this time, the UK workforce has been spared. An Accenture spokesman told AccountancyAge.com: ‘Currently we have no plans for any cuts in the UK.’

In addition, Accenture said it would expand its FlexiLeave programme -in which the staff receive 20% of their salaries to take a sabbatical for a period between six and 12 months- into Europe and Asia, to give it more flexibility in managing its staff.

The firm also announced it was buying back $150m worth of its own shares, which it said are undervalued. It said the shares ‘represent an attractive investment opportunity as a result of current market conditions’.

Accenture raised $1.7bn (£1.19bn) in its initial public offering on the New York Stock Exchange last month.

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