Accenture is also going to lay off 19,000 employees, citing bad global economic conditions

Accenture Layoff Plans: Veteran IT company Accenture is also preparing to lay off employees. The company has said on March 23, 2023 that in view of the deteriorating Global Economic Outlook, the company is going to lay off 19,000 employees. Veteran IT company Accenture is also preparing to lay off employees. The company said on March 23, 2023 that in view of the deteriorating global economic outlook, the company is going to lay off 19,000 employees.

In a statement, Accenture said that it is going to reduce the number of employees by around 2.5 percent of its existing workforce. The company said that more than half of the layoffs will be done in non-billable corporate functions. After this decision of the company, there has been a jump of 4 percent in the stock of Accenture.

In the second quarter of 2023 fiscal, Accenture is taking steps to streamline its operations, transform non-billable corporate functions and consolidate office space to cut costs. The company has recently reduced its annual revenue and profit estimates due to the possibility of reducing technology budgets of companies affected by the recession. The company estimates that its annual revenue growth could be around 8 to 10 percent, which was earlier 8 to 11 percent.

This week, on Monday, March 20, 2023, Amazon has announced the layoff of 9000 people. Amazon CEO Andy Jassy said these things regarding layoffs in a memo sent to employees. He says that this is very important for the success of the company in the long run. Last week, Facebook’s parent company Meta has again announced the layoff of 10,000 employees.

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