Global IT services firm Accenture slashes 19K jobs, tech mayhem deepens

Global IT services firm Accenture, which has a big presence in India, on Thursday introduced to put off almost 19,000 staff amid the difficult world macro-economic situations and sluggish income progress.

Delivering its quarterly outcomes for the second quarter of fiscal 2023, the corporate additionally lowered its annual income progress and revenue forecasts.

“We are additionally taking steps to decrease our prices in fiscal 12 months 2024 and past whereas persevering with to put money into our enterprise and our folks to seize the numerous progress alternatives forward,” Julie Sweet, Chair and CEO, Accenture, mentioned in a press release.

The firm mentioned its revenues have been $15.8 billion, a rise of 5 per cent in US {dollars}. The new bookings have been at $22.1 billion, a 13 per cent enhance.

During the second quarter of fiscal 2023, Accenture initiated actions to streamline operations, rework non-billable company features and consolidate workplace area to cut back prices.

The firm recorded $244 million in enterprise optimization prices throughout the second quarter and expects to report whole prices of roughly $1.5 billion by means of fiscal 2024.

“Accenture estimates $1.2 billion for severance and $300 million for consolidation of workplace area, with roughly $800 million anticipated in fiscal 2023 and $700 million in fiscal 2024,” mentioned the corporate.

(With inputs from IANS)