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NCC Group to reduce workforce by 7 percent

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Bad news for staff at Manchester-based NCC Group, after reports it will join other tech players in restructuring its workforce.

Reuters reported that NCC said on Thursday that it plans to cut more than 125 jobs as part of an ongoing strategic review, amid difficult market conditions in the second half of the current fiscal year.

CNC is not alone. Other big names in the technology sector have already announced a restructuring that includes the elimination of thousands of jobs.

NCC jobs

According to Reuters, NCC shares fell around 10 per cent to a more than two-and-a-half-year low of 147 pence in morning trading.

NCC reportedly employs around 1,800 people globally, so the 7% job losses will affect 125 people primarily centered in the UK and North America.

NCC said the job cuts would generate a one-time cost of 4 million pounds ($5 million) in the second half of the fiscal year ending May 31.

His cuts are being reflected throughout the tech industry.

In fact, earlier this week, Intel said that mid-level staff and senior management were cutting their salaries, in addition to already announced job losses.

technological losses

Last week, IBM revealed that it will cut 3,900 jobs and SAP said it would cut 3,000 jobs.

It came after Google CEO Sundar Pichai said it would cut some 12,000 jobs, or about 6 percent of its global workforce.

Microsoft announced last month that it will cut 10,000 jobs, affecting nearly 5 percent of its workforce.

Amazon also said it will cut 18,000 jobs, or 1.2 percent of its staff worldwide.

Salesforce cut more than 10,000 jobs last month, while Facebook parent Meta announced 11,000 job cuts in November as ad spending slowed.

Also in November, HP revealed plans to cut 4,000 to 6,000 employees over the next three years.

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