Sage workers braced for job cuts

Announcement expected tomorrow

More job losses are predicted at Sage when the firm announces its financial results tomorrow.

Last month the accountancy software provider offered UK staff voluntary redundancy as part of a cost cutting programme. The Newcastle-based firm employs 2,200 people in the UK and 14,000 in total worldwide.

The Sunday Times predicted as many as 200 jobs could go in the UK - in total Sage will cut 600 jobs on top of the 400 cut last year. The firm is aiming to cut costs by £50m a year, the paper reckons.

Execs could also use tomorrow's announcement to update the market on progress with voluntary redundancies.

In an update in February, Sage said market volatility had been helped by the weak pound. ®