Information about the company’s decision to lay off 19,000 employees is included in the information provided. In addition to this, the company’s results have decreased estimates of annual revenue growth and profit.
Giant firms are still going through the retrenchment process as the global recession problem looms.
Following major corporations like Twitter, Amazon, and Google, Accenture, a major player in the IT sector, is getting ready to destroy the firms. Information about the company’s decision to lay off 19,000 employees is included in the information provided. In addition to this, the company’s results have decreased estimates of annual revenue growth and profit.
Accenture, an IT service and consultancy company, will let go of 19,000 workers over the next 1.5 years.
At the moment, Accenture employs roughly 7 lakh employees, of which 3 lakh are in India. The largest corporation in India has this many employees. The business informed the stock market that in the second quarter of the current fiscal year, we continued hiring to support our strategic expansion.
Measures are done to cut costs
We have started taking steps to standardize our processes in order to cut costs, the corporation also informed us. In the ensuing 18 months, almost 19,000 individuals may be sacked. This retrenchment process will be carried out in stages. The corporation stated that we took this action to lower the cost.
Let us remind you that
earlier, layoff announcements from Amazon (18000), Microsoft (11,000), Facebook’s parent firm Meta (21,000), and Twitter (20000) all caught everyone off guard. Julie Sweet, CEO of Accenture, stated that we are taking action to cut costs in the fiscal year 2024 and beyond.
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