To be more specific, the numbers are 14% technology cost cuts (FTEs & in-house owned systems and assets) by end of 1Q 2014, followed by attrition-driven reductions (based on lowest 25% by forced-ranking of remaining FTEs): there has so far been no mention of cuts for vendor contracts. The total goal for 2014 is for year-over-year IT costs to be cut by at least 31% (including FTEs, systems, assets, infrastructure, licensing), bolstered by a 43-month hiring/purchasing freeze. Bad days for BMS IT staffers.
Meanwhile, PVA signed over a Billion ($1.2 BB to be exact) dollars in IT vendor service contracts with Accenture etc. - wow that is about eight percent of BMS's annual revenues: no wonder BMS has to lay off so many IT folks
