1) CEO arrives

2) CEO wants to make an impression

3) CEO decides to save some quick money

4) CEO sells buildings & rents, and/or starts offshoring

5) CEO hits bonus target

6) CEO leaves

7) Company makes crap software and/or has no more buildings to sell

8) Spiral

Two extracts from their website:

"a Performance Multiplier Plan is being proposed, which is designed to give an additional incentive to about thirty to forty of the top executives"

"A primary conclusion of the business review is that Logica’s overhead structure is high compared to industry peers"

30 to 40 executives I think is known as "too many chiefs (earning FAT salaries) and not enough indians.

I worked there for 7 years - nothing changes. The longer I am away from them, the more I like it.

Logica cutting jobs? This is news?

- Anon., Logica Cuts of '07

Question - Is that better than the old CEO "Doctor" Read who:-

1) Headed up Logica for years,

2) Took FAT salary for years

3) Cut staff to "reduce overheads"

4) Moaned on the front page of computer mags that he could not get good staff to look after customers (they were all made redundant or left because of crap pay rise policy, Martin).

4) Got booted out with FAT payoff.

Only time will tell if this makes a difference - but the stock market wasn't impressed earlier today ... and it sure feels like we've all been here before.

the people should not bother too much about cutting jobs. In todays market, lots of other jobs options are available. There are lots of jobs sites which are helping us to find better opportunity and lots of consultants are there to help in finding gud jobs. Some of my favorite jobs websites are jobs.com, indeed.com , naukrihub.com