IT giant shrinks UK operation

largest IT consultancy, Cap Gemini Ernst & Young, is planning to cut 700
jobs in the UK, 10 per cent of its workforce in this country.

Paris-based company said the cost-cutting move was a result of “a combination
of streamlining our structure to better respond to the current market
conditions and a harsher operating environment”.

Spence, Cap Gemini’s chief executive for the UK and Ireland, said: “The
decision, although regrettable, is absolutely necessary to significantly reduce
our costs and align ourselves with the marketplace.

Gemini has shed 5,000 jobs worldwide since the peak of the telecommunications
and financial services boom.

By Quentin Reade

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