Accenture cut 19000 jobs

 ACCENTURE CUTS 19,000 JOBS AS IT SPENDING SLOWS

                            Layoffs, being very common today  and huge technology-product firms like Meta, Alphabet, Microsoft, Amazon are on the verge of dismissing their employees. Now one of the major information technology and consulting is about to fire their 19000 employees or 2.5 % of its headcount  all on a sudden. This is in account of the wage inflation and cost streamlining. It expects a severance cost of $1.2 Billion.

                                A similar movement was taken by Google which laid off of 12,000 employees, and  almost 1400 people among those employees have signed a petition by demanding better treatment to the employees and they also come up with writing an open letter to the Chief Executive officer  Sundar Pichai.

                                    In January 2023, also they fired thousands of employees as per records for using fake documents and experience certificates to acquire the job.  And as if now the wage inflation became a big problem that the increase in the wage results to higher pay and it inturn increases the price of the product or service, thus the consumer price also increases. Which results in the decision of this temporary termination of the people. And the cost streamlining  is the expense caused due to eliminating  the human intervention as a whole make accounting comprehend and for  the hectic paperless counting which saves time and improves the audit trail.

                                    India is one of the largest talent bases of the company and in the previous year (2022) they had revealed that 40% of their workforce that is about 3,00,000 people are in India .Therefore due to this change, it is beyond the limit of expectation what will be the impact of their decision happening to India.

 * More than 50% of the jobs was dismissed from the non-billable corporate functions

 * 800 of the over the 10,000 leaders across the service and markets

                                    Now they are expecting an annual growth of revenue by 8 to 10 % in the financial year 2023 when comparing with the annual growth percentage of 8 to 11%.

                                    The chair and chief executive officer of Accenture, Julie Sweet, mentioned that the company is going after structure costs through the organizational framework in different structures like the purchasing,marketing,research ,administration ,logistics etc. and she also added the  about the wage inflation and also with pricing. She also added that ,they are looking forward for better opportunities to go after more structural cost to create resilience and room in the P&L on moving ahead.