Andersen Employees Get Stake in Net Activities

LONDON (03/20/2000) - Management and technology consultant firm Andersen Consulting Inc. has launched a plan designed to reward and retain its employees by cutting them in on the company's e-commerce investment earnings, the company announced today.

Andersen Consulting will invest US$200 million in e-commerce-related companies through the company's venture capital division, AC Ventures, on behalf of Andersen employees, the company said in a statement. Andersen will then distribute what it calls eUnits to top-performing and long-term employees as an additional earnings bonus, Andersen said.

The firm has invested the first $100 million in the investment portfolio and will invest another $100 million on Sept. 1, Andersen said. Andersen then plans to invest an additional $100 million in the program each year, the company said.

Each eUnit is meant to give Andersen employees a stake in the company's e-commerce related investments, the company said.

Furthermore, as another incentive to employees, Andersen will double the firm's partnership positions. More than 1,000 new partners will be named in various parts of its global operations this year, Andersen said.

The company employes 65,000 people in 48 countries, Andersen said.

Andersen Consulting, in Chicago, can be contacted at +1-312-693-7768 or at http://www.ac.com/.

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