Accenture Axes UK Managers

The firm formerly known as Andersen Consulting is suffering from a downturn in business. As a company that majors in advising on large-scale IT projects, the firm is being adversely effected by the fact that many clients' IT spend has reduced substantially in the past year.

The 150 senior managers who were made redundant are thought to have all had around 10 years service and been earning approximately £100,000 a year.

Morale at Accenture is thought to be low, with many more staff concerned that further cuts may be necessary before too long.