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December 2, 1993

LOGICA SEEKS TO CUT OVERHEADS WITH 100 REDUNDANCIES…

By CBR Staff Writer

Logica Plc, London W yesterday declared 100 redundancies in the UK and the US as part of a streamlining operation that it expects to cost about UKP2.3m against its profits – but it expects the costs to be recovered in the resulting savings over the current financial year. The company hopes that the cuts, mainly in administrative and support functions, will improve margins and revenue growth. The aim is to improve competitiveness by pruning overhead functions to make the company more responsive and effective. The key priorities of our change programme include maintaining a tight hold on costs, making more effective use of our international network of companies and creating a more results-oriented and market-focused culture, said Martin Read, chief executive of Logica since August. Logica employs 3,400 staff in 14 countries.

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