Jobless Recovery Seen Likely for Procurement, Finance and Other G&A Functions

Atlanta — December 3, 2009 — Nearly 1.4 million back office jobs will be lost at the world's largest companies between 2008-2010, part of a longer-term trend that started in 2001 and that will result in nearly 3.6 million general and administrative (G&A) jobs being eliminated by 2014, according to a new study from The Hackett Group. These losses are just.

According to Hackett, more than 630,000 G&A jobs are expected to be lost in 2009 alone, over three times the average number of jobs lost annually from 2000 to 2007. This dramatic spike is likely to lead to an extended "jobless recovery" in IT, Finance, Procurement, HR and other G&A areas.