Accenture to lay off 19,000 jobs globally as part of its effort to reduce costs in the face of a negative financial future.
hindustanview.com
Accenture announced on Thursday that more than half of the positions to be eliminated will be in non-billable corporate tasks, which helped boost its stock by 6.4%.
hindustanview.com
Between February 2022 and February 2023, Accenture's workforce increased by an enormous 39,000 employees.
hindustanview.com
Accenture stated in a filing that it would spend $1.2 billion in severance pay to reduce 2.5% of its staff over the next 18 months in more than 200 cities in 49 countries.
hindustanview.com
Accenture's previous estimate of an increase of 8% to 11%, now expecting yearly revenue growth to be between 8% and 10%.
hindustanview.com
Julie Sweet, chief executive officer of Accenture, said the company plans to cut expenses in fiscal 2024 and beyond while continuing to invest in its operations and workforce.
hindustanview.com
Tech industry has been forced to lay off hundreds of thousands of workers since late last year, due to high inflation and rising interest rates.
hindustanview.com
According to Stanford Graduate School of Business expert 513 tech firms have laid off 150,000 workers so far this year.
hindustanview.com