Original URL: http://www.channelregister.co.uk/2009/05/05/sage_job_nes/
Sage workers braced for job cuts
Announcement expected tomorrow
Posted in Enterprise, 5th May 2009 12:02 GMT
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More job losses are predicted at Sage when the firm announces its financial results tomorrow.
Last month the accountancy software provider offered UK staff voluntary redundancy [1] as part of a cost cutting programme. The Newcastle-based firm employs 2,200 people in the UK and 14,000 in total worldwide.
The Sunday Times predicted as many as 200 jobs could go in the UK - in total Sage will cut 600 jobs on top of the 400 cut last year. The firm is aiming to cut costs by £50m a year, the paper reckons.
Execs could also use tomorrow's announcement to update the market on progress with voluntary redundancies.
In an update in February [2], Sage said market volatility had been helped by the weak pound. ®