IT company Accenture
IT company Accenture Plc stated on March 23 that it would cut 2.5 percent of its workforce or about 19,000 jobs amid worsening global economic outlook.
Over the next 18 months
“Over the next 18 months, these actions are expected to result in the departure of approximately 19,000 people (or 2.5% of our current workforce), and we expect over half of these departures will consist of people in our non-billable corporate functions,” the company said in the regulatory filing.
It added, “While we continue to hire, especially to support our strategic growth priorities, during the second quarter of fiscal 2023, we initiated actions to streamline our operations and transform our non-billable corporate functions to reduce costs.”
Moreover, the IT services company also lowered its annual revenue and profit projections amid worries that recession-wary enterprises will cut technology budgets. The company now expects annual revenue growth to be in the range of 8 percent to 10 percent in local currency, compared to 8 percent to 11 per cent expected previously.