Accenture to lay off 19,000 to cut costs amid economic uncertainty

IT
services
and
consultancy
firm
Accenture
said
it
would
lay
off
19,000
staffers,
or
2.5%
of
its
workforce,
 over
the
next
18
months
to
reduce
costs
amid
uncertain
macroeconomic
conditions.

“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,”
the
company
said
in
an

Securities
&
Exchange
Commission
(SEC)
filing
on
Thursday.

“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
added.

The
job
cuts
reflect
stabilizing
demand,
following
explosive
post-pandemic
growth,
and
prudent
cost
management,
according
to
Ignacio
Rasero,
vice
president
for
Moody’s
Investors
Service.

In
addition,
the
company
has
revised
its
fiscal
year
2023
revenue
growth.

“Accenture
expects
revenues
for
the
third
quarter
of
fiscal
2023
to
be
in
the
range
of
$16.1
billion
to
$16.7
billion,
an
increase
of
3%
to
7%
in
local
currency,
reflecting
the
company’s
assumption
of
an
approximately
negative
3.5%
foreign-exchange
impact
compared
with
the
third
quarter
of
fiscal
2022,”
the
company
said
in
a
statement.

About Author

AndyC

Andy Curtis is an award-winning security consultant, researcher and public speaker. He has been working in the computer security industry since the early 1990s, having been employed by state and federal government, leading healthcare and banking providers across three continents. He has given talks about computer security for some of the world’s largest companies, worked with law enforcement agencies on investigations into hacking groups, and is a regular voice on TV and radio explaining IT security threats.

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