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News > Technology
Accenture trims staff
August 17, 2001: 8:30 a.m. ET

Consulting firm cutting 1,500 jobs worldwide to reduce costs
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NEW YORK (CNNfn) - Accenture said Friday it is cutting 1,500 jobs, or about 2 percent of its global workforce, as the consulting conglomerate formerly known as Anderson Consulting strives to cut costs amid a slowing economy.

About 1,000 U.S. consulting jobs and about 500 worldwide support positions are being cut as a result of restructuring and other functions, the company said.

Accenture (ACN: Research, Estimates) also said it will extend its FlexLeave sabbatical program to consultants in Europe and Asia. The program allows participants to receive 20 percent of their salaries and continuation of their employer-provided benefits during their sabbaticals The sabbaticals typically last 6-12 months.

"We are taking these actions after our normal annual budget review and management plan to ensure that our staffing levels are better balanced with client demand," CEO Joe W. Forehand said. The company's shares ended down 74 cents at $14.05 Thursday. graphic





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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.