IT Firm Accenture To Lay Off 19,000 Employees | TodayPassion

 


Global IT services firm Accenture, which has a large presence in India, on Thursday announced to lay off of nearly 19,000 employees amid the challenging global macro-economic conditions and slow revenue growth. Delivering its quarterly results for the second quarter of fiscal 2023, the company also reduced its annual revenue growth and profit forecasts.

“We are also taking steps to lower our costs in the fiscal year 2024 and beyond while continuing to invest in our business and our people to capture the significant growth opportunities ahead,” Julie Sweet, Chair and CEO, of Accenture, said in a statement. The company said its revenues were $15.8 billion, an increase of 5 percent in US dollars. The new bookings were at $22.1 billion, a 13 percent increase. During the second quarter of fiscal 2023, Accenture initiated actions to streamline operations, transform non-billable corporate functions and consolidate office space to reduce costs. The company recorded $244 million in business optimization costs during the second quarter and expects to record total costs of approximately $1.5 billion through fiscal 2024. “Accenture estimates $1.2 billion for severance and $300 million for consolidation of office space, with approximately $800 million expected in fiscal 2023 and $700 million in fiscal 2024,” said the company.

Read More: http://todaypassion.in/it-firm-accenture-to-lay-off-19000-employees-amid-global-headwinds-slow-revenue-growth/

Comments

Post a Comment

Popular posts from this blog

Neeva, the ad-free, privacy-focused search engine founded by ex-Google employees, is shutting down

Image
  Neeva , previously positioned as a rival to Google Search, revealed on Saturday that it would be closing down its search engine. The co-founders, Sridhar Ramaswamy and Vivek Raghunathan, who played significant roles in Google’s transformation into an advertising powerhouse, were the driving forces behind this search engine. In a blog post announcing the closure, Ramaswamy and Vivek Raghunathan stated that the challenge of convincing users to pay for a superior experience was comparatively easier than persuading them to try a new search engine in the first place. They highlighted the difficulty of attracting new users in a different economic climate as a major obstacle in sustaining their business operations.
Read more

Ananya Panday: Bollywood’s Gen Z Star Winning Hearts

Image
Bollywood’s brightest Gen Z star,   Ananya Panday , is a name that lights up screens and social feeds. From blockbuster films to jaw-dropping fashion and candid personal moments, she’s winning hearts across India. At   TodayPassion , we’re all about celebrating her sparkle, and we know you’re a fan too! Ready to dive into Ananya’s movies, style, and life off-screen? Let’s get starry-eyed! Breaking Into Bollywood: Ananya’s Big Start As the daughter of actor Chunky Panday and Bhavana Panday, Ananya was born with filmi roots. She stormed Bollywood with  Student of the Year 2 , a Dharma Productions hit where she played the spunky Shreya, a college diva with big dreams. Despite nepotism chatter, her charm and hustle shone through, proving she’s here to stay.  What’s your take on Ananya’s debut vibe? Iconic Films That Define Her Stardom Ananya’s film choices scream versatility. Here’s a look at her standout roles: Student of the Year 2 : As Shreya, she brought sass and hea...
Read more

India’s Top 500 Companies Need To Train And Upskill Their Managers To Leverage AI

Image
  The good news is that the pandemic years have given a push to digital technology, resulting in companies showing an improvement in the AI maturity index. According to a recent study conducted by the Indian Institute of Management Ahmedabad (IIM-A) and the Boston Consulting Group (BCG), the majority of Indian businesses, approximately 75%, have not yet harnessed the potential of artificial intelligence (AI) to enhance their profitability. The study, named “AI In India — A strategic necessity,” reveals that if AI is effectively embraced, it has the potential to contribute an annual increase of up to 1.4 percentage points to India’s real GDP growth.
Read more