Accenture to Cut 19000 Jobs as IT Spending Slows

Image Source: wsj.com

Accenture Plc lowered its annual revenue and profit forecasts and decided to cut about 2.5% of its workforce or 19,000 jobs.

Accenture stated that it anticipates spending around $1.5 billion on its business optimization plan.

Accenture employs around 738,000 employees worldwide and has grown by 28,000 over the past two quarters.

Accenture has been addressing the issue of accumulating pay escalation through pricing, cost-saving measures, and digitalization.

Accenture layoffs are associated with a recent wave of job losses as businesses in tech and manufacturing.

For the very first time in over two years, the employment market for IT experts fell in January.

A notable portion of the IT jobs getting eliminated or digitized is in data center operations and telecommunications.

Accenture is managing to its shareholders, there are a large number of firms with 20% to 30% attrition that is happy to pick up folks from Accenture.

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