Accenture axes 150 managers

ACCENTURE, the world's biggest management consulting firm, has sacked 150 senior managers in London as part of a cost-cutting programme. The managers are typically 30-somethings with 10 or more years' experience and earning £100,000 or more.

Accenture, formerly Andersen Consulting, has suffered a reduction in assignments as client companies and organisations tighten their belts. Clients include Sainsbury's, the London Stock Exchange and the Inland Revenue.

Morale is said to have sunk at Accenture, which has offices in Queen Victoria Street, the Strand and the Old Bailey. Juniors complain that overtime has almost dried up.

An Accenture spokeswoman confirmed the job cuts, and said the cull was necessary because of the economic slump and the need for the right balance of capabilities to execute the strategy.

Senior managers are the third rung from the top on the Accenture hierarchy - below partners and associate partners. About 1% to 2% of Accenture's 75,000 workforce worldwide is being cut.