Cap Gemini to Slash Workforce
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.