Accenture Layoff: IT giant announced layoffs, 19000 employees will be laid off
IT sector company Accenture is also going to layoffs its employees. The company today said on March 23 that it would lay off 19,000 of its employees. Accenture has blamed the worsening global economic outlook for the layoffs.
Accenture Layoff: Amid fears of recession, the process of retrenchment in companies around the world is not taking its name. Now IT sector giant Accenture is also going to lay off its employees. The company today said on March 23 that it would lay off 19,000 of its employees. This is equivalent to about 2.5 percent of the company’s workforce. Accenture has attributed the layoffs to the deteriorating global economic outlook.
Accenture reduced revenue and profit estimates
Apart from this, the company has also reduced its annual revenue and profit estimates. Accenture is believed to have done this because of concerns about technology budget cuts by enterprises due to the recession. The IT company now expects annual revenue growth in the range of 8 percent to 10 percent in local currency, as against 8 percent to 11 percent earlier. The company’s forecast for third-quarter revenue is between $16.1 billion and $16.7 billion.
This is the estimate of the IT company for the third quarter
Accenture said in a statement, “Accenture expects revenue in the third quarter of the fiscal year 2023 to be between $16.1 billion and $16.7 billion, an increase of 3 percent to 7 percent in local currency. Reflects the company’s perception of approximately a negative 3.5 percent foreign exchange impact compared to Q3.
The company announced its second-quarter results
Meanwhile, today on March 23, Accenture announced results for the second quarter of the fiscal year ending February 28, 2023. The company’s revenue during this period stood at $15.8 billion. This is 5 percent higher in the US dollar and 9 percent higher in local currency as compared to the same period last year. New bookings for the quarter were a record $22.1 billion, including consulting bookings of $10.7 billion and managed services bookings of $11.4 billion.
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