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28 Sep 2001
IT services group Logica is to axe 250 workers, or five per cent of its UK workforce, to cut costs.
Logica employs 12,00 staff worldwide, and has UK offices in London, Birmingham and Edinburgh.
The firm has started a three-month consultancy period and expects the cuts to be finalised by January.
It said it was making the cuts to ensure its long-term growth, and that they were not a response to any difficulties in trading.
Unlike many IT firms, Logica has actually increased profits significantly this year.
Analysts said outlook for the sector was bleak until at least next Spring, and that investors would be gratified to see Logica move to protect profits.
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