MAZARS could make up to 5% of its workforce redundant, as it begins a consultation process across the firm.
Accountancy Age has learned staff were informed this week that a consultation process to cut costs was taking place across the business.
A statement from Mazars said: “Mazars has made significant headway in the last few years, with good organic growth and profitability. However, the continuing market conditions in the UK mean that, like most professional service firms, regrettably we are obliged to engage in a consultation process across our business that may result in redundancies of up to 5% of our workforce.
“Every effort will be made to consult and help those who are leaving us. Mazars has a highly talented team and will continue to provide the market leading support to our clients that has always driven our growth.”
Accountancy Age understands the firm is in the process of determining which members of staff will be made redundant, with a limited number of partners to be included.
The consultation, including redundancies, should be finalised before the end of the year.
According to the Top 50+50 2012 survey, Mazars had a fee income of £114.4m and employs 115 partners.
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