IT services giant Accenture to slash 19,000 jobs worldwide


As mass layoffs continue to remain prevalent globally, IT services giant Accenture plans to slash at least 19,000 jobs worldwide due to the economic crunch.

More than half of the roles which will be slashed would be among back-office staff, the company stated.

The Irish-American professional services firm, headquartered in Dublin, disclosed in a filing on Thursday, that it would spend $300 million to consolidate its office space and $1.2 billion on severance to reduce its workforce by 2.5 per cent over the next 18 months.

Accenture, which is a $167 billion company downgraded its revenue growth outlook for the 2023 fiscal year to between 8-10%, from its previous estimate of between 8-11%.

In its most recent quarterly report to the Securities and Exchange Commission, Accenture, which has over 738,000 employees worldwide, stated that while it “started measures to streamline operations and alter the non-billable corporate services to cut expenses.”

Last week, Amazon CEO Andy Jassy said he was cutting 9,000 more jobs from the online retail giant’s workforce, following the 18,000 that were axed in January.

The latest cuts come after the company announced earlier this year that it was eliminating some 18,000 positions as part of a major cost-cutting bid at the e-commerce giant.

Moreover, Facebook parent Meta said also said this month that it was laying off an additional 10,000 workers, on top of the 11,000 job cuts announced late last year.

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