Monday feeling costs PwC £75m

ACCOUNTANCY firm PricewaterhouseCoopers is spending £75m to change the name of its consultancy arm - to Monday. It took a team of marketing men two months of brainstorming to agree on the new identity.

Chief executive Greg Brenneman believes it will strike a chord because it is a 'real word'. He said: 'Monday is exactly what we want it to be: concise, recognisable, global, and the right fit for a company that works hard to deliver results. Monday is a new identity on which to build our company's future, and it will have meaning and stand for something: real people, real experience, real business and real results.'

PwC Consulting has 32,000 staff in 52 countries providing management services to firms and governments.

Rebrands have failed to transform the fortunes of other firms. The Post Office was ridiculed after changing its name to Consignia last year. British Steel became Corus two years ago but this year has lost £462m and cut 6,000 jobs.

Analysts are waiting to see if rebranding will work for BT Cellnet, which has become O2 , and One2One, now T-Mobile.