Consultants hit by cost-cutting

Consultants: nice to have, but not essential. That at least seems to be the message struggling financial services companies are sending, as consultants such as KPMG and PricewaterhouseCoopers find themselves with time on their hands instead of rushing to the rescue of grateful clients.

At least one firm has asked its consultants to work only three or four days a week, without mentioning it to clients, while PwC was able to find six partners free at once to have lunch with a couple of journalists this week.

About the blog

FTfm is no longer updated but it remains open as an archive.

FTfm's specialist writing team offer their insights into the global fund management industry.

About the authors

Pauline Skypala has been editor of FTfm for four years having previously been deputy personal finance editor. She joined the FT in 1999 and has been writing on savings and investment issues throughout her career.

Steve Johnson, FTfm deputy editor, has been a journalist for 17 years, 10 of which have been with the FT.

Sophia Grene, reporter on FTfm, has been a financial journalist in print and online for 12 years.

Ruth Sullivan has worked as a financial/business journalist and foreign correspondent and for the past 10 years has been at the FT.