Pharma Industry
Industry: Email Alert RSS FeedKorn/Ferry Reduces Staff.(Brief Article)
Chemical Market Reporter, August, 2001
The executive recruitment firm Korn/Ferry International has initiated a series of cost-cutting moves in response to current economic conditions. The company will reduce its workforce by 20 percent or nearly 500 employees, consolidate all back-office functions for JobDirect, FutureStep and Korn/Ferry, write down other related assets and goodwill, and cut executive salaries by 10 percent.
The company expects to save $38 million from these moves and will take a total charge against earnings of $86 million.
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