Heidrick & Struggles on Friday said it will lay off 15 of its 200 employees in Chicago as part of a wide-ranging global restructuring expected to save the executive search firm $11 million to $13 million annually.
All told, the Chicago-based company plans to cut its workforce of 1,600 employees by 70 people, or about 4 percent, said company spokesman Jon Harmon.
As part of the plan approved by the companys board Dec. 31, Heidrick & Struggles will also close two unspecified offices, one in the U.S. and one in Europe, and merge those operations into other offices. The firm currently operates 50 offices in 29 countries. In November, a 175-person office in India was closed and its functions were outsourced.
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