Tell me why I don't like Mondays
Published: 18 November 2002 12:00 GMT
Cap Gemini is set to reduce its UK headcount by around 700 as the tech recession hits demand for its services.
The job cuts represent around 10 per cent of the IT services specialist's UK workforce.
The company said in a statement: "A combination of streamlining our structure to better respond to the current market conditions and a harsher operating environment mean that we need to cut 10 per cent of the UK salary costs. We envisage that this could mean a reduction of around 700 jobs in the UK."
Paul Spence, UK and Ireland CEO, said: "This decision although regrettable is absolutely necessary to significantly reduce our costs and therefore align ourselves with the market place."
The company, which acquired the consulting arm of Ernst & Young in 2000, has now axed nearly 12,000 jobs in the last two years.
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