Accenture pushes back hike cycle to June, to promote 15,000 in India

Accenture shifts appraisal cycle to June citing economic uncertainty and US contract cancellations; 50,000 employees to be promoted globally including 15,000 in India

Accenture has pushed back its appraisal cycle to June this year from December last year as it grapples with an uncertain macroeconomic environment, low client spending, and the cancellation of US government contracts in the second quarter.

 

The company said in a memo to employees—excerpts of which were seen by Business Standard—that the cycle will now be effective from June and some employees will be eligible for salary hikes. It also highlighted the “elevated level of uncertainty in the global economic and geopolitical environment.”

 

Accenture, the world’s largest IT services provider, follows a September-to-August financial year and employed about 801,000