Essential news and insight from the firms, business surveys and current trends
In a bid to reduce costs after reporting £70m in losses for the six months to December 2011 year end, RSM Tenon is to slash its 3,000-plus headcount by 10%.
The cuts will also see offices in the north and Midlands targeted for £14m in annual cost savings.
RSM Tenon reported the £70m loss after impairment of goodwill and revealed material errors in accounting has led to a restatement of the six months to December 2010 year-end, which reduced pre-tax profit for 2010 by £12.1m.
In addition, revenue was down 9.3% to £107.8m – compared with 2010 figures of £118.9m, with net debt at £76.5m, up £73.3m year on year.
This content requires a Croner-i subscription.
Existing subscriber? Log in
Contact us to discuss your requirements.
0800 231 5199
Croner-i is the trusted source of expert guidance and time-saving tools.