Consulting company Accenture is cutting as many as 25,000 jobs worldwide. Accenture Layoffs would impact employees that are in a bottom 5% bucket based on Performance Appraisal. Accenture India also will Layoff several thousands of employees.
Accenture has about 492,000 employees around the world. CEO Julie Sweet responded to a question about job losses.
“As I have said this before, we have identified some real areas of efficiencies, and so that has obviously headcount implications to it, which may be what you’re calling layoffs,” she said.
Accenture Layoff was in the news when the company cut 900 jobs in the U.K. resulting from Business slowdown amid the coronavirus pandemic.
According to Guardian which obtain a memo, “Accenture went into the crisis with an overcapacity of people relative to demand; The crisis has caused additional strain on the business due to lower demand and reduced national attrition.”
The Australian Financial Review sources reported that the first round of Layoff already happened earlier this month, and more job cuts are coming.
Accenture tried to manage the expenses by reducing travel budgets, removing contractors, and subcontractor jobs where needed and pause hiring. While many expected the Accenture Layoff, however, 25,000 job cuts came as surprizing.
While Accenture continues to Layoff and Fire its employees, The company’s Merger and Acquisitions activities have not slowed down. Even during the crisis, Accenture continues to invest in acquiring companies and recently completed its 20th acquisition of the year.
Accenture India Layoff
Accenture is cutting 25,000 jobs globally, then how will it not impact Accenture’s biggest base India that has over 1,70,000 employees in Accenture India. According to the sources, Accenture India will Layoff several thousand employees in India after the conclusion of the performance appraisal cycle that is underway.
Accenture spokesperson said in an emailed statement to TiO: “Every year, as part of our performance process, we have conversations with our people about how they are performing, areas for improvement, their potential to progress, and whether they are a long-term fit for Accenture. This year, across all parts of our business and all career levels, we will identify nearly 5% of our people as our lowest performers who will transition out of Accenture. It is consistent with our actions each year.”
The spokesperson also said, “In India, we continue to hire. As part of our ongoing compensation programs, we also recently recognized a number of our people with bonuses and promotions.”
Accenture has seen revenues collapse following the Covid-19 pandemic. In the latest quarter, revenue grew a mere 1.3%.
This Accenture India Layoff News is undoubtedly sad.
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