Serco announces 500 UK job cuts

Serco has announced it will be cutting 500 UK jobs as it looks to alter the way in which it offers back office services to both public and private sector companies around the world.

The outsourcing group revealed it will carry out a number of acquisitions to merge its business processing operations into a single global division.

It is expected that most of the job losses will take place at the firm's office in Hook near Basingstoke - and the news comes after the group previously claimed its divisions in the UK and the US were facing challenging conditions as a result of government cutbacks on a central and local level.

The company employs around 100,000 members of staff across the globe, with 35,000 of these stationed in the UK.

Recently, Serco - which has a history stretching back to 1929 - posted a ten per cent rise in pre-tax profits in the six months leading up to June 30th 2011.