Global business and technology consultant Sapient has closed its Sydney office, laying off 70 staff after the company's US headquarters decided to consolidate operations in the wake of uncertain economic conditions.
According to Sapient Australia managing director Pat Bentley, all staff will be made redundant, except for a few who will stay on to fulfil contractual commitments to its Australian customers.
Sapient announced a total reduction of 720 staff (about 20 per cent of its global workforce), which predominantly affected North America, while the Australian office is the only international office to be closed down as a result. The restructuring is expected to cost the company $US35-40 million in the short term, but it expects to save $US60-65 million annually.
"We are certainly disappointed we couldn't be successful here," said Bentley, who, after "rounding up things" in the Sydney office, expects to return to the US.
