Consultancy firm Accenture is planning to axe up to 900 jobs in the UK as the firm tries to cut costs to deal with the coronavirus crisis and an uncertain future.
Accenture is a US firm headquartered in New York, but it employs more than 10,000 people in the UK.
The job cuts are part of a broader trend sweeping across the UK economy, with companies laying off workers as they grapple with the coronavirus downturn.
UK firms have announced more than 68,000 job cuts due to the coronavirus crisis in recent months. British Airways is set to cut 12,000 jobs while energy firm Centrica is laying off 5,000 employees.
Accenture will start consulting on the job cuts in the middle of this month. It expects between 700 to 900 employees to depart.
The consultancy said in a statement: “We are taking steps now to be able to continue investing in our workforce and our business, ensuring we have the right people with the right skills to best serve our clients and are well positioned for the future.
“We have notified our UK people that it is necessary to go into collective employee consultation for a proposed redundancy programme.”
In a note to staff seen by the Guardian, which first reported the cuts, Accenture said: “We went into the crisis with an overcapacity of people relative to demand. The crisis has caused additional strain on the business due to lower demand and reduced national attrition.
“In addition, we have identified structural costs that we need to address.”
Like almost all industries, consulting has been hit by the coronavirus pandemic and lockdowns.
‘Big Four’ firms EY, KPMG, PWC and Deloitte all intend to cut partner pay so as to save money during the pandemic as key income streams such as mergers and acquisitions dry up.