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Cap Gemini Ernst & Young cuts 2,700 jobs

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Paris--Big 5 consultancy Cap Gemini Ernst & Young L.L.P. is cutting 2,700 jobs, or 4% of its work force. Most of the job losses will come in the U.S. and the U.K. In a statement, Cap Gemini Ernst & Young said the job losses stem from a slowdown in client engagements in the technology, financial services and manufacturing markets. Cap Gemini Ernst & Young competitors PricewaterhouseCoopers L.L.P. and KPMG Consulting Inc. have also recently reduced their work forces by 2.6% and 5%, respectively.
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