Accenture

UK roles will be cut, although the global consulting firm declined to state exactly where and how many.

The latest round of cuts come after the group reported a 5% rise in quarterly revenue and better-than-expected earnings. It is also closing offices globally as part of the plans to save around £1.2bn, of which around £651m will be delivered this year and the remainder in 2024. The company confirmed that the UK will be affected, but declined to provide a breakdown of cuts per country.

The IT services and consulting firm will trim 19000 jobs or 2.5% of its workforce over the next year and a half.

dollars and 16% in local currency compared to the second quarter “during the second quarter of fiscal 2023, we initiated actions to streamline our operations and transform our non-billable corporate functions to reduce costs. Over the next 18 months, these actions are expected to result in the departure of approximately 19,000 people (or 2.5% of our current workforce), and we expect over half of these departures will consist of people in our non-billable corporate functions.”

A consulting firm with an office in Leeds has revealed it is axing around 19000 jobs across its worldwide workforce over the next 18 months.

The company confirmed the UK will be affected, but declined to provide a breakdown of cuts per country. [On the firm’s website](https://www.accenture.com/gb-en/careers/local/our-locations) it states: “Our Leeds hub has a range of roles such as cloud engineering, cybersecurity, data and intelligent operations.” It is also closing offices globally as part of the plans to save around 1.5 billion US dollars (£1.2 billion), of which around 800 million US dollars (£651 million) will be delivered this year and the remainder in 2024.

Job losses will impact 2.5% of its 738,000-strong global workforce, with redundancies being made largely in its human resources, IT, finance and marketing ...

The firm hopes to save around £1.2bn through closing global offices. It employs around 11,000 workers in the UK across its Birmingham, Manchester, Leeds, London, Newcastle, Edinburgh and Glasgow offices. 19,000 jobs to be cut by IT consultancy Accenture

Accenture is erasing the jobs of 19,000 employees - with in-house IT workers confirmed on the front line - after it trimmed revenue projections for the rest ...

[21,000 staff over two rounds](https://www.theregister.com/2023/03/14/meta_10000_jobs_cut/), and [Amazon, which is expunging 18,000](https://www.theregister.com/2023/03/20/amazon_9000_layoffs/). [513 tech companies have made redundant 150,000 employees](https://www.theregister.com/2023/03/22/skills_shortage_shadows_it_departments/). In the case of Accenture, for example, it has grown staff numbers by 30 percent since the start of June 2021, adding some 170,000 people. A Stanford Graduate School of Business boffin [last month said](https://www.businessinsider.com/stanford-professor-mass-layoffs-caused-by-social-contagion-companies-imitating-2023-2?r=US&IR=T) he believes this is just copycat behavior rather than genuine fear of a recession, which now seems less likely to be deep should it happen. Google is laying off [12,000](https://www.theregister.com/2023/03/20/dont_be_evil_a_gaggle/) and [Microsoft some 10,000](https://www.theregister.com/2023/01/18/microsoft_job_cuts/). The real reason for the caution centers on Accenture lowering forecasts for the remainder of its financial year, with revenue expected to grow between 8 and 10 percent rather than 8 and 11 percent, and operating margin to be in the range of 14.1-14.7 percent instead of 15.3-15.5 percent. [Don't Be Evil, a gaggle of Googlers tell CEO Pichai amid mega layoffs](https://www.theregister.com/2023/03/20/dont_be_evil_a_gaggle/) [Europe, America fear Twitter job cuts mean it can't protect users](https://www.theregister.com/2023/03/08/eu_us_regulators_concerned_twitter/) [BT opens 'voluntary job leavers' scheme for merging Enterprise and Global units](https://www.theregister.com/2023/03/03/bt_business_voluntary_redundancy/) [Salesforce under investor pressure to dump more staff](https://www.theregister.com/2023/02/27/salesforce_job_losses_not_over/) [Heads to roll at Lenovo amid 'severe downturn' in PC sales](https://www.theregister.com/2023/02/17/lenovo_q3/) Almost half of the axed employees will be shown the door by Accenture by the end of the current financial year, McClure added on the earnings call. McClure said the business is initiating “business optimization actions” to “reduce costs” for fiscal 2024, and it expects to book in $1.2 billion in severance and some $300 million for “consolidation of office space.” The job cuts come despite Accenture, one of the largest cloud resellers on the planet, reporting $15.8 billion in revenue for its latest quarter, up 5 percent year-on-year, and an operating profit of $1.946 billion, albeit down against the $2.06 billion filed a year earlier. “These actions are expected to impact roughly 2.5 percent of 19,000 of our current workforce, of which over half are non-billable corporate functions and include over 800 of our more than 10,000 leaders.” Accenture is erasing the jobs of 19,000 employees - with in-house IT workers confirmed on the front line - after it trimmed revenue projections for the rest of its current fiscal 2023.

Accenture has announced it will cut 19000 jobs, 2.5% of its workforce, over the next 18 months. This follows a number of cutbacks in the finance and fintech ...

“We’ve been dealing with the challenges of compounding wage inflation,” she said. The actual amount and timing of costs are dependent in part upon local country consultation processes and regulations. Accenture has announced it will cut 19,000 jobs, 2.5% of its workforce, over the next 18 months. “We’ve been doing that with pricing, but we’ve also been doing that with cost efficiencies and digitisation and we’ve identified an opportunity to go after structural cost.” [filing](https://otp.tools.investis.com/clients/us/accenture2/SEC/sec-show.aspx?FilingId=16509145&Cik=0001467373&Type=PDF&hasPdf=1) with the Securities and Exchange commission (SEC), the company stated: “during the second quarter of fiscal 2023, we initiated actions to streamline our operations, transform our non-billable corporate functions and consolidate our office space to reduce costs.” This follows a number of cutbacks in the finance and fintech sector amid a slowdown in IT spending.

Accenture to cut 19,000 jobs as IT spending slowdown continues ... The consultancy remains profitable, but is cutting its cloth in the face of the global tech ...

Nonetheless, Accenture's revenue has held up, and yesterday it reported year-on-year income growth of 5%, bringing in $15.8bn in the three months to the end of February. Experts say that while these companies remain profitable, the period of rapid growth spurred by the pandemic has come to an abrupt end. Since then the war in Ukraine and rising interest rates, and inflation, around the world have slowed spending on cloud and other IT projects. Meanwhile, KPMG is making 700 redundancies in the US and 200 in Australia, mostly from its advisory business. Sweet told investors on the company’s earnings call yesterday that it was taking “offensive” action to ensure the business would be in good shape moving forward. [industry’s biggest names](https://techmonitor.ai/policy/digital-economy/meta-job-cuts-facebook-metaverse) cut [thousands of jobs](https://techmonitor.ai/policy/digital-economy/microsoft-lay-offs-big-tech-job-cuts), has impacted spending on Accenture’s services.

Minister for Enterprise Simon Coveney informed of collective redundancy plan as outsourcing giant moves to shrink global workforce by 19000 people.

It has also made multiple acquisitions since 2020. The company plans to shrink its global workforce by 19,000 people over the next 18 months, or about 2.5 per cent of its total personnel, following a downgrade in its revenue outlook amid a slowdown in economic growth. Accenture employees are understood to be unsurprised by the announcement in light of a period of budget tightening in recent months.

The job onslaught continues relentlessly. The latest in the series of announcements is Irish-American giant Accenture announcing a cutting down of 19,000 ...

It is the attrition rate which is normal in a company like Accenture. The market would continue to be on shaky grounds for some time to come.” Sumit Kumar says, “The 2.5% is not a big number. I mean who knows if they will be the first to be laid-off or the last? Also, who knows if they will be amongst the 50% of back-office staff or the unlucky others.” Poonam Patel an IT professional says, “It’s (the job slash) is less that 3% and is also over a period of time.