More Job Cuts14 Dec 2011 10:07
"Anglo-Dutch IT services firm Logica PLC (LOG.LN) Wednesday issued a profit warning and said it will cut over 1,300 jobs as it fast-forwards restructuring plans in the light of a worsening economic climate.
It has recently become clear that many of our clients are delaying short-term expenditure and reducing discretionary investments to weather an uncertain economic future. As a result, the pockets of weakness that we first saw in September have widened through the quarter," the company said in a statement.
Logica said the job cuts will be shared across the Benelux, Sweden and the U.K. to match falling demand. "
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Looking at past history - most of these job cuts will be in the UK.
And yet 1 month ago, CapGemini reported strong third-quarter sales growth and reiterated ambitious guidance for the full year. Paul Hermelin, chief executive, said he had seen no slowdown in spending yet.