UK jobs cut at Cap Gemini Ernst & Young
A total of 550 jobs are being cut from the UK operations of IT services firm Cap Gemini Ernst & Young and telco Atlantic Telecom.
Cap Gemini is shedding 250 jobs from its 9000 staff. The job cuts will hit consultants and marketing and admin staff.
The company said the cuts were being made to take advantage of cost savings following its merger with Ernst & Young’s consulting arm last year, and followed a review of its business.
Atlantic is to cut a further 300 jobs, following the 350 it announced in January, effectively slashing its workforce by two thirds since the start of the year.
The struggling telco is expected to offload its indirect residential phone service which it acquired with the take over of First Telecom last year. Atlantic’s value has fallen by 90 per cent since the acquisition.