August 18, 2001 |
Accenture Ltd. will slash 1,500 jobs, or about 2% of its work force, the second round of layoffs at the giant consulting firm this year as it continues to contend with the global economic slowdown. Accenture, which was formerly named Andersen Consulting, said about 1,000 consultants will be cut in the United States, and the remaining 500 jobs will include support positions worldwide.
July 20, 2001 |
Accenture (ACN) shares rose 4.6% in their first day of trading on the New York Stock Exchange on Thursday, closing at $15.17, up 67 cents from the $14.50 offering price. The consulting company, formerly known as Andersen Consulting, had been seeking a price range of $13 to $15. It was the fifth-biggest IPO of the year and the second consulting company. KPMG Consulting Inc. (KCIN) went public in a $2-billion offering in February.
August 8, 2000 |
An international arbitrator Monday ended a long-standing dispute between Arthur Andersen and its sister firm Andersen Consulting, ruling that the profitable consulting arm can run its own show without any future payments to the accounting firm. Both sides claimed victory after the ruling by a Paris-based arbitrator, but Arthur Andersen's chief executive resigned hours after the decision came down.
November 22, 1999 |
Andersen Consulting sued Computer Sciences Corp. last week for allegedly failing to pay $10 million for work on a computer systems outsourcing project. Chicago-based Andersen and El Segundo-based CSC are partners in the Pinnacle Alliance, a seven-year project begun in 1996 to manage the computer systems for JP Morgan. A CSC spokesman said the company doesn't comment on pending litigation but that an accusation of this type is "not common."
December 18, 1997 |
Partners of Andersen Consulting, the world's largest business consulting group, have voted overwhelmingly in favor of breaking from parent company Andersen Worldwide. More than 1,000 partners voted to request an arbiter to resolve disputes with Andersen Worldwide and its accounting unit, Arthur Andersen. The move caps a bitter rift between the firm's accounting and consulting partners. For the fiscal year ended Aug. 31, Andersen Consulting posted worldwide revenue of $6.
December 12, 1996 |
DuPont Co. on Wednesday said it will contract out computer work to Computer Sciences Corp. and Andersen Consulting in an arrangement that the leading chemical company valued at more than $4 billion over 10 years. The deal will move almost three-quarters of DuPont's 4,200 information systems workers to the two contracting companies.