Reuters: Global Markets: FTI Consulting shares fall on planned job cuts

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

FTI Consulting shares fall on planned job cuts Jul 9th 2012, 14:33 Mon Jul 9, 2012 10:33am EDT (Reuters) - Shares of FTI Consulting Inc (FCN.N) fell more than 7 percent in morning trade on Monday after the business advisory company said it plans to cut about 3 percent of its workforce. FTI on Friday said it would cut about 115 jobs to save costs as its technology, strategic communications and forensic litigation consulting practices have been hurt by tight credit, falling discretionary spending and fewer capital markets deals. FTI, which has made a name for itself as a go-to firm for businesses in trouble, said it expects cost-saving measures like job cuts and reduction of real estate capacity, to result in operational savings of about $14 million over the rest of the year. The announcement also prompted Deutsche Bank to cut its price target on FTI's stock to $24 from $37. Shares of the company, which have lost almost 35 percent of their value since they touched a year-high of $45 in February, were trading at $26.94 on Monday morning on the New York Stock Exchange.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions