Cap Gemini to Slash Workforce

Posted by accountingweb on Nov 27 2001 217 printer friendly

Blaming worsening economic conditions, Cap Gemini, the consultancy that split off from Ernst & Young last year, has requested volunteers for participation in a layoff program that will encompass at least 750 workers in Ireland and the UK and as many as 2,000 worldwide.

Nine thousand Cap Gemini employees received a voice mail message last week from a top executive requesting voluntary layoffs. The message was repeated in an e-mail format. The firm indicated that the use of telephone and e-mail was necessary to enable the message to get out to workers who might be at client sites, in transit, or at home.

If enough workers do not voluntarily step down, the firm will begin selecting employees for layoffs in January.

In addition, salaries of the top 10% of highest paid employees will be lowered so that they will be "in line with market rates," according to a report in The New York Times.

Voice of the Editor

What would you do if one of your clients won the lottery? We asked several accountants to weigh in with their advice for the lucky Powerball winner, and the tips we received are useful for anyone who receives a windfall, whether it's a lottery win, an inheritance, a big bonus on the job, or a killing in the stock market.

This Week on AccountingWEB

CPAs Mira Finé, Scott Hitchcock, Rob Keasal, Kathy Scorcio, and Ken Travis offer ten pieces of financial advice for the newest Powerball winner.

Hang Bower of BDO USA and Dan Black of Ernst & Young share their perspectives on why their firms made the Best Places to Work for Recent Grads 2013 list.

Herbein + Company, Inc. firm members talked with AccountingWEB about their year-round employee wellness program.

Bill Walter of Gross, Mendelsohn & Associates and Harold Gaar of TravisWolff LLP weigh in on mobile technology use while employees are at work.