LogicaCMG to cut another 450 jobs
LogicaCMG, the Anglo-Dutch computer group is to cut 2,650 jobs -11.5% of the workforce, up from a 2,200 headcount reduction planned six months ago.
"The increase follows finalisation of the rationalisation prgrammes for Germany and France in the light of market conditions, and further reductions in Wireless Networks," it said in a statement, adding some jobs would move to India.
Europe's No.3 IT services company, as measured by sales, now expects annual cost savings of stg£85m (€123m), five million more than its earlier forecast.
Restructuring charges would rise to stg£110m (€159.29m), versus an earlier stg£100m (€144.80m).
The company , the result of the takeover of CMG by Logica in December, earlier published better than expected first-half results.
Group Chief Executive, Martin Read said "The restructuring programme is now largely complete and we will see more benefits coming through in the second half of the year."
