US headhunter Heidrick & Struggles has confirmed that it is to announce further redundancies in a bid to cut costs.

A spokesman said new CEO Piers Marmion was reviewing the company’s operations following his appointment at the beginning of the month.

‘He will be looking carefully at all aspects of the business, and is drawing up a new strategy and operational plan to be announced next week,’ the spokesman said.

‘Part of that will include some cost reductions in the form of head count reduction and sale of real estate.’

Top-level management meetings hammered out the plans last week, which will be announced in time for Heidrick & Struggles’ third quarter results on 5 November.

The news comes following revelations that Heidricks made 300 staff redundant from its global operations in July, and reports that Patrick Pittard, controversial chairman and former CEO, is about to leave the company.

Pittard was rumoured to have created internal conflict in the firm over his demands for a substantial retirement package.

Newly appointed chief executive Piers Marmion is expected to take on the title of chairman and CEO, with COO David Anderson tipped to be in line for the position of president and COO.

Pittard stood down as CEO after Marmion’s appointment, but retained his duties as chairman of the company’s board. He was formerly president, chairman and CEO.

The spokesman refused to comment about the speculation.