Feeds

Cap Gemini cuts jobs

Consultants downsized

  • alert
  • submit to reddit

SANS - Survey on application security programs

Cap Gemini is cutting 1,500 jobs, or 2.5 per cent of its workforce, as it continues to try and cut costs. Redundancies will cost the firm €140m but should cut annual costs by €110m.

The consulting firm maintained its prediction of 10 per cent growth over the course of next year. Paul Hermelin, chief executive at Cap Gemini, said it wasn't just about big contracts but also that "run-of-the-mill has stabilised".

Nicholas Dufourcq, chief financial officer at Cap Gemini, said: "Management layers will be drastically reduced. Then there are targeted layoffs all over the group. It has started at the beginning of the fourth quarter."

The news emerged as Cap Gemini posted revenues for the third quarter of €1.61bn, up from €1.34bn for the third quarter of 2003. Sales grew 16.7 per cent in Europe and 2.8 per cent in the US. Figures were boosted by two big money outsourcing contracts with Texan electrcity supplier TXU and the Inland Revenue in the UK. The firm said outsourcing revenue will provide 35 per cent of total revenues in the second half of the year.®

Related stories

Swansea IT striker speaks out
Offshore analysts speak with forked tongue
Capgemini embraces new consulting paradigm

High performance access to file storage

More from The Register

next story
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
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?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
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

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications 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.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.