Feeds

ICL cuts 1500 jobs

Unexpected

  • alert
  • submit to reddit

High performance access to file storage

ICL today says it will cut 1500 employees - about 13 per cent of its 11,500-strong UK headcount. It will provide a window period for voluntary reductions, which will be followed by "selected redundancies" to make up the total. The reductions are expected to be completed by March 2002.

Sources inside the company say the message has been received with disbelief, as it has been tightening its belt for ages and some units are running at a profit. Most employees have already spent their salaries on Christmas and are now stunned by this unexpected news.

A message sent to all employees late last night, which The Reg has seen, says that although the company has won some new business, significant declines in other business areas demand additional cost-cutting measures.

The message says that employees have until Friday, 11 January to apply for voluntary reductions.

Various other measures already implemented, such as trimming contract staff, have proved insufficient to handle the downturn in business.

ICL, the European IT services arm of Fujitsu, employs a total of 17,700 people throughout the EMEA region. It turned over £2.4 billion in its last financial year. ®

Related Link

ICL's Official Announcement

Top three mobile application threats

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Record labels sue Pandora over vintage song royalties
Companies want payout on recordings made before 1972
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Number crunching suggests Yahoo! US is worth less than nothing
China and Japan holdings worth more than entire company
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.