Accenture to layoff 19,000 jobs; 7,000 in India

IT giant Accenture is planning to lay off 2.5 percent of its workforce globally as a part of its cost-cutting measures. In India, Accenture plans to fire almost 7,000 of its employees out of the total 350,000. The process will continue for the next 18 months. It is the first major layoff announcement from the IT giant. With this layoff announcement, Accenture joins other tech giants like Alphabet, Amazon, Meta, and Microsoft which have collectively announced 70K job cuts since January.

Accenture’s decision to lay off employees will surely create panic among other similar tech companies like TCS, Infosys, HCL, etc., which have avoided any kind of layoffs despite the economic crisis.

“Nearly half of the 19K layoffs will be completed by the next financial year 2023-24,” said Accenture’s chief financial officer K.C. McClure.