Member Article

Sage set for UK redundancies

Accountancy software firm Sage is expected to announce UK redundancies along with its interim results this week.

The Newcastle-based group is expected to set out plans for 600 cuts this year (on top of 400 posts last year) when it reports on the six months to 31 March, according to the Sunday Times.

It is believed the cuts could affect around 200 roles in the UK, where the firm employs more than 2,000 people.

Sage, which serves nearly six million businesses worldwide, warned of ‘particularly challenging market conditions’ three months ago.

Potential global job losses are understood to represent about eight per cent of the firm’s 14,500 strong total workforce and it is thought that the group will say all the cuts will be through voluntary redundancy and not replacing people who decide to leave.

Aside from its Newcastle headquarters, the firm also has UK offices in Manchester, Winnersh, near Wokingham central London and Witney, in Oxfordshire.

The US accounts for the bulk of Sage’s revenues, at just under 40%, while the UK represents nearly 20%.

This was posted in Bdaily's Members' News section by Ruth Mitchell .