Accenture to lay off 19,000 employees over the next 18 months

As huge layoffs at leading tech businesses continue worldwide, IT services provider Accenture Plc on Thursday announced it would eliminate approximately 19000 jobs and decreased its 2017 sales and profit expectations, as per fresh reports.

The company stated, “streamlining operations expected to result in the departure of approximately 19,000 people over the next 18 months. Expect over half of the departures will consist of people in non-billable corporate functions.”

“We are also taking steps to lower our costs in the fiscal year 2024 and beyond while continuing to invest in our business and our people to capture the significant growth opportunities ahead,” said the Chair and CEO of Accenture, Julie Sweet, in a statement.

A number of tech giants like Amazon, Microsoft, Google, Meta, and Amazon have been laying off employees amid fears of a recession. Accenture joined the list of growing companies who are downsizing their workforce on Thursday.

The announcement comes on the heels of Amazon stating a few days ago that it will be firing more than 9000 employees in the upcoming weeks. Following the trend, Facebook’s host company Meta said that it will further trim its workforce by another 11,000 redundancies.

The job cuts commenced in 2022 and spread rapidly throughout the tech sectors across the globe. The tech industry is cutting jobs similar to the early phases of the COVID 19 pandemic.

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of ET Edge Insights, its management, or its members

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