Deloitte & Touche LLP announced on Thursday that it has laid off 7,400 employees in its worldwide headquarters and its Canadian office, as well as in the United States and Australia.
The news comes as the IT industry has struggled to keep pace with the rapid pace of technological change.
“This news will have a profound impact on the future of our clients and our teams and, frankly, our business,” Deloise & ; Touche CEO Mike Deacon said in a statement.
“Our team members will be working to find new opportunities in other industries and across our worldwide network of offices.”
Deacon added that the new layoffs will be temporary.
He said the company will provide support to those affected.
The layoffs were announced on the heels of Deloiser’s announcement that it was cutting 1,000 jobs.
Deloises chief financial officer, David McArthur, said the restructuring will help the company address “significant shortfalls” in revenue.
“We’ve put in place a restructuring program that is going to help us address some of those issues and make some strategic investments,” he said.
“And it’s going to take some time.”
He said that while the new jobs will help, he was still unsure of what the impact will be on the company’s business.
“What’s happening with Deloite has always been a challenge for us,” he told CBC News in an interview.
“It has been a challenging environment for us to work in.”
Deloiste said it will spend up to $50 million to replace those jobs and will also lay off about 10 employees.
Delogate will also close the Australian offices of Delosource.com and Delossource.com.au.
“The Australian operations are part of our core business, but we also have operations in Europe, Asia and South America,” said Deacon.
“At Deloisource.co.uk, we’re still focused on the business and have been in the process of closing the business.
Our focus is on our customers and on delivering the best services possible.”
Deamon said that he expects Deloisse to make about $1 billion in revenue in the year that it’s in operation.
He also said that the company is working to make sure that the cost of its business is sustainable.
“In the long run, our goal is to get a sustainable business model and that’s something we’ll be working on very hard,” he added.
In a statement, Deloita said it is also cutting 8,700 of its global workforce, but said it would not reveal how many of those jobs will be impacted.
“These cuts will affect the most affected employees.
However, we do not share individual employees’ details,” the statement read.
For those impacted by this action, we will continue to work closely with our clients to address their specific needs and continue to provide the best possible service to our customers.”