Accenture to cut 19,000 jobs as IT spending slows; India impact unclear

Lowers revenue, profit forecast; India impact unclear

IT services and consulting major Accenture has announced it will lay off 19,000 people, or 2.5 per cent of its headcount, on account of wage inflation and cost streamlining. It expects a severance cost of $1.2 billion.

Accenture joins the list of companies that have announced layoffs. They are technology-product firms such as Meta, Google, Microsoft, and Amazon.

Of the 19,000, over half are from non-billable functions with more than 800 of its 10,000 leaders across services and markets. Nearly half the 19,000 people will depart from the company by the end of the financial year, said the management during the earnings