Formerly bullish services firm faces grim economic reality...
By Aled Herbert
Published: 12 October 2001 08:00 GMT
Cap Gemini is expected to cut second-half forecasts and announce further job cuts today as a result of the turbulent global economy.
The IT services company decided not to trim its forecasts for the quarter in July; at the time it predicted revenues of around $4.6bn for the half-year.
However, the downturn in the IT industry and the struggling economy have led analysts to predict the company will be forced to make further redundancies in an attempt to cut costs.
Cap Gemini slashed 2,700 jobs in June. Up to 2,000 more are expected to go according to a report in the FT.
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