Accenture: Acquisitions and Layoffs

I accidentally posted this story to my other blog.

Accenture Adjustments

The Houston Chronicle reported last week that: "Accenture LLP plans to cut 95 jobs in the Houston area on July 1." On the same day that this broke, Wachovia Capital Markets, LLC reported that: "Accenture (ACN, Outperform, $37.79) agreed to acquire AddVal Technology Inc., a privately owned provider of shipment management products and services. The acquisition is expected to close within 45 days. Financial terms were not disclosed."

While any job loss is tough for the person(s) affected, 95 people are not significant in the total view of Accenture's workforce. However, if these cuts are part of other cuts or are a result of the loss of a major customer(s), we will want to follow this story very closely.

Comments

[Anonymous]

The Spanish Tax Authority forced 100 Accenture Partners to pay 110 million € plus fine for unpaid taxes on IPO.

http://www.elmundo.es/mundodinero/2008/06/20/economia/1213922650.html

The partners did not consider they have to pay taxes in any moment

http://www.sec.gov/Archives/edgar/data/1143908/000095013706000977/filename1.htm

On this quarterly report http://www.sec.gov/Archives/edgar/data/1134538/000095013708008852/c27629e10vq.htm

They reported there are tax reviews carried on several countries