New York (Sept. 4, 2002) --The merger of PricewaterhouseCoopers' consulting arm into IBM could lead to pink slips for up to 4,000 people, according to the Wall Street Journal.PwC’s consulting group employs nearly 30,000 workers, while IBM’s consulting arm includes 50,000 people, but it hasn’t yet been determined where the cuts will come from.
The merger is expected to be completed by Sept. 30 and the layoffs are slated to take place sometime during the fourth quarter.
IBM announced plans to acquire the consulting unit last month for $3.5 billion in cash and stock. The deal ended PwC’s long search for either a partner or an IPO in a bid to separate itself from the auditing side of the Big Four firm.
--Electronic Accountant Newswire staff
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