Accenture

Accenture Plc lowered its annual revenue and profit forecasts and decided to cut about 2.5% of its workforce, or 19000 jobs, the latest sign that the ...

The company expects to incur $1.2 billion in severance costs through fiscal 2023 and 2024. Register for free to Reuters and know the full story [(IBM.N)](https://www.reuters.com/companies/IBM.N) and India's top IT services firm [Tata Consultancy Services](/world/india/indias-tata-consultancy-q3-profit-misses-view-2023-01-09/) [(TCS.NS)](https://www.reuters.com/companies/TCS.NS) have also flagged weakness in Europe, where the Ukraine war has affected client spending. [(CTSH.O)](https://www.reuters.com/companies/CTSH.O) last month pointed to "muted" growth in bookings, or the deals IT services firms have in the pipeline, in 2022 and forecast quarterly revenue below expectations. More than half of the jobs to be cut will be in its non-billable corporate functions, Accenture said on Thursday, sending its shares up 6.4%. March 23 (Reuters) - Accenture Plc lowered its annual revenue and profit forecasts and decided to cut about 2.5% of its workforce, or 19,000 jobs, the latest sign that the worsening global economic outlook was sapping corporate spending on IT services.

ACCENTURE on Thursday (Mar 23) lowered its annual revenue and profit forecasts and said it would cut about 2.5 per cent of workforce, or 19000 jobs, ...

More than half of the layoffs will affect staff at its non-billable corporate functions, the company said. Read more at straitstimes.com.

“In short, the data indicates a very difficult environment ahead for consulting firms.” REUTERS Accenture now expects annual revenue growth to be between 8 per cent and 10 per cent compared to the previous projection of 8 per cent to 11 per cent increase. More than half of the 19,000 jobs to be cut will be in its non-billable corporate functions, the company said, sending its shares up more than 4 per cent before the bell.

Tech consultancy giant Accenture plans to cut 19000 jobs, or 2.5% of its workforce, and has lowered its annual revenue and profit forecasts.

Accenture Plc said on Thursday it would cut about 19000 jobs and lowered its annual revenue and profit projections, the latest sign that the worsening ...

The company expects to incur $1.2 billion in severance costs through fiscal 2023 and 2024. Advertisement

Accenture on Thursday lowered its annual revenue and profit forecasts and said it would lay off 2.5% of workforce, or 19000 employees.

[Subscribe](https://economictimes.indiatimes.com/subscription?newslettertype=div_3125&email=2&utm_source=newsletter&utm_medium=email&utm_campaign=DailyTop5)to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox. Analysts on average were expecting revenue of $16.64 billion, according to Refinitiv data, the report added. As per a report by Business Insider, Nearly half of the 19,000 people will depart by the end of fiscal year 23," KC McClure - Chief Financial Officer, Accenture told analysts during the earnings call. It also lowered its annual revenue and profit forecasts. It forecast current-quarter revenue in the range of $16.1 billion and $16.7 billion.

Accenture Plc plans to fire at least 7000 of its about 350000 employees in India as the world's largest technology services company prepares to let go of ...

lowered its annual revenue and profit forecasts and decided to cut about 2.5% of its workforce, or 19,000 jobs, the latest sign that the worsening global ...

[Cognizant Technology Solutions](/quotes/CTSH/) last month pointed to "muted" growth in bookings, or the deals IT services firms have in the pipeline, in 2022 and forecast quarterly revenue below expectations. The company expects to incur $1.2 billion in severance costs through fiscal 2023 and 2024. More than half of the jobs to be cut will be in its non-billable corporate functions, Accenture said on Thursday, sending its shares up 6.4%.

Accenture on Thursday confirmed layoffs impacting 19000 workers or 2.5% of its global workforce to reduce costs. It added 39000 over the past year.

“Our strong financial results this quarter again demonstrate that our ability to bring together industry, functional and technology expertise as well as managed services continues to differentiate us with our clients,” she said. Given the overall inflationary environment, compensation has been and continues to increase faster than in prior years.” More than one-half of the workers are in non-billable corporate functions. “In addition, we adjust compensation in order to attract and retain appropriate numbers of qualified employees. “We evaluate voluntary attrition, adjust levels of new hiring and use involuntary terminations as a means to keep our supply of skills and resources in balance with changes in client demand,” it said. [latest quarterly report](https://otp.tools.investis.com/clients/us/accenture2/SEC/sec-show.aspx?FilingId=16509145&Cik=0001467373&Type=PDF&hasPdf=1) with the U.S.

The company will slash 2.5 per cent of its workforce globally, mostly from back-room staff, but it's not clear exactly how many jobs will go in Australia.

“These actions are expected to impact roughly 2.5 per cent or 19,000 of our current workforce, of which over half are non-billable corporate functions, and include over 800 of our more than 10,000 leaders across our markets and services,” KC McClure, Accenture’s chief financial officer said during the company’s second quarter earnings call overnight. Connect with Edmund on [[email protected]](mailto:[email protected]) “Locally, it will be non-billable with very limited impact on client facing as we have focused on performance achievement,” the source said. The firm has almost 740,000 staff operating around the world. Shares in the company remain down more than 17 per cent from a year ago. This source stated that the local operation was growing.