Grant Thornton axes UK secretarial roles

Grant Thornton axes UK secretarial roles

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Grant Thornton has made almost all of its UK-based secretarial staff redundant, outsourcing the roles to India just months after the accounting firm sold a majority stake to private equity group Cinven.

Scores of personal assistants and support staff were informed they were losing their jobs in June. While the firm has not disclosed an exact figure, insiders estimate the number of redundancies is between 40 and 100. The move reflects a wider corporate trend of shifting administrative functions to lower-cost locations or replacing them with new technology.

The decision has caused unease within the firm, with one source stating that UK partners were “really embarrassed” by the move and that other employees are now concerned for their own roles. The cuts follow a review of the firm’s operations by consultancy AlixPartners, aimed at boosting productivity, Financial Times reports.



Grant Thornton UK described the redundancies as affecting a “small number of people” and stated the decision was made “independent of our transaction with Cinven in response to the evolving needs of the business”. A person familiar with Cinven’s strategy said the private equity owner was not responsible for the cuts, adding that Grant Thornton manages its operations “prudently” to “support margins and facilitate investment”.

The restructuring occurs amidst a strategic rivalry between the UK and US arms of Grant Thornton, which are both backed by different private equity firms. The two are competing to bring other national firms from the global network under their platform. The Indian firm, which already provides support functions to its UK counterpart and is the network’s largest by employee numbers, is seen as a key strategic prize in this contest.

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