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Global IT services and consulting major Accenture has announced that it will lay off 2.5% or 19,000 of its employees over the next 18 months.
Over half of these job cuts will affect people in the company’s non-billable corporate functions.
In a filing, the company said it continues to hire, especially to support its “strategic growth priorities” but it had to streamline operations to reduce costs in the second quarter of fiscal year 2023.
It’s estimated that India is home to more than 300,000 out of Accenture’s global workforce of 738,000.
A representative from Accenture India, however, didn’t clarify how the layoffs would affect employees in the country. “This may differ by market and by country, as a consequence of our different footprint and growth, and should not be taken as a figure applicable to all geographies,” the person said.
Only two days ago, Accenture had agreed to acquire Flutura, an industrial AI company headquartered in Bangalore.
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Editing by Thu Huong Le and Eileen C. Ang
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