Accenture, a well-known consulting, technology, and outsourcing company, has announced that it will be reducing its worldwide workforce by 2.5% over the next 18 months.
According to Accenture CEO, Julie Sweet, the firm has been facing challenges due to compounding wage inflation. She also went further to express how the company is very happy that its clients trust them to create value and help them change quickly.
They also plan to reduce their expenses in the coming years while still investing in their business and employees to grow even more. To do this, they will be spending $1.5 billion on costs associated with downsizing, with $1.2 billion of that going towards laying off some employees.
Sweet explained that they have been dealing with rising wages by increasing prices, but they have also found ways to cut costs and improve efficiency through digitization.
Accenture is a big company with over 721,000 employees, according to its latest annual report. The Dublin-based consulting firm will be cutting 19,000 jobs, which is about 2.5% of their total workforce around the world, in the next 18 months. The job cuts will mainly affect roles in IT, HR, finance, and marketing.
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